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Mortgage with defaults on file
tricky_plus
Posts: 22 Forumite
Good afternoon everyone, looking for some advice/information please.
My wife and I are keen to get a mortgage. We're entirely debt free after several years on a debt management plan. As a result of the plan I have several defaults on my file (four in total), the most recent of which is July 2011.
My question is do we have any hope of getting a mortgage for a reasonable amount and rate? As I said we are completely debt free and I have a good job with decent salary. We have enough money saved for a deposit which would give us approximately 80% ltv.
Do we have any hope? I've found lots of info on the internet already but I'm yet to see an actual success story from anyone in a similar situation.
Many thanks in advance!
My wife and I are keen to get a mortgage. We're entirely debt free after several years on a debt management plan. As a result of the plan I have several defaults on my file (four in total), the most recent of which is July 2011.
My question is do we have any hope of getting a mortgage for a reasonable amount and rate? As I said we are completely debt free and I have a good job with decent salary. We have enough money saved for a deposit which would give us approximately 80% ltv.
Do we have any hope? I've found lots of info on the internet already but I'm yet to see an actual success story from anyone in a similar situation.
Many thanks in advance!
0
Comments
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Yes, you have hope with that deposit, choose a whole of market broker.
Good luck !"Dream World" by The B Sharps....describes a lot of the posts in the Loans and Mortgage sections !!!0 -
Yes, more than hope.
Lender selection is critical and could be the difference between big savings or big costs.
Engage an experienced broker.
All the bestI am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0
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