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42.6 ltv

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kevanna17
kevanna17 Posts: 5 Forumite
in Mortgages & endowments
Hi all,

Just wondering what the likelihood of my Wife and I have of getting a mortgage?

My Wife has an impeccable credit score and mine is not so impeccable. I have defaults in the last 12 months.

We require 100k and have 135k deposit.

Any help in this matter would be greatly appreciated.
«1

Comments

  • kingstreet
    kingstreet Posts: 39,256 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    How many, reason, dates registered, amounts and satisfied or not?
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • kevanna17
    kevanna17 Posts: 5 Forumite
    kingstreet wrote: »
    How many, reason, dates registered, amounts and satisfied or not?

    2 Defaults, registered in June, 1 default for £950 and on for £4000, repayment agreement made.
  • kingstreet
    kingstreet Posts: 39,256 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    There's certainly no high street solution to this.

    Speak to an independent mortgage broker experienced in adverse credit and see what can be done. It may be too soon for anyone to look at, TBH.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • ACG
    ACG Posts: 24,555 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    At that sort of LTV there will be lenders. It might be possible to get some quirky lenders to make an exception based on it being a low LTV but if not then you would be looking at much higher rates - getting on for double digits.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Mortgage_Mark_2
    Mortgage_Mark_2 Posts: 857 Forumite
    I think the key piece of information missing is around income...!
    I am a mortgage adviser.
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    kevanna17 wrote: »
    We require 100k and have 135k deposit.

    Why not settle the outstanding default?
  • maninthestreet
    maninthestreet Posts: 16,127 Forumite
    Part of the Furniture
    You have £135K in cash, so why did you default on debts of less than £5000 and are only repaying them in installments?
    "You were only supposed to blow the bl**dy doors off!!"
  • kingstreet
    kingstreet Posts: 39,256 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    maninthestreet wrote: »
    You have £135K in cash, so why did you default on debts of less than £5000 and are only repaying them in installments?
    Equity tied up in property and no ready cash/income to meet liabilities due to personal issue, such as redundancy, bereavement etc?
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • kevanna17
    kevanna17 Posts: 5 Forumite
    Mortgage_Mark wrote: »
    I think the key piece of information missing is around income...!
    Around income is £36k.
  • kevanna17
    kevanna17 Posts: 5 Forumite
    maninthestreet wrote: »
    You have £135K in cash, so why did you default on debts of less than £5000 and are only repaying them in installments?
    Sorry maybe should have stated £135k tied up in equity.
This discussion has been closed.
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