Previous poor credit history - mortgage application

OllieMK

Hi there,

I've previously had poor credit history. I had two defaults registered in October 2010.

My credit history since then has been absolutely fine. I currently have a credit score of 864 on Experian.

I'm looking to get a mortgage with my wife who has an Experian credit score of 876.

Our combined income is £69,000. We also have no other debt of any kind.

We will have a 10% deposit minimum.

The question I have is, will we be declined because of my default dating back to 2010? We want to buy towards the end of this year. Would it be more beneficial to wait until my defaults are no longer showing on my credit history or should I apply anyway?

Sorry if this is a straight forward question with a simple answer, I'm very new to this and seeking a little reassurance.

Thanks for any responses in advance.

Ollie

ACG

There will be lenders for you but it wont be for every lender.
You will find you have many more options once the defaults drop off, but its whether you want to wait or buy sooner rather than later. If you want to buy before they drop off, I would suggest speaking to a broker to give you the best possible chance.