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Mortgage with 5year old default
alimck2
Posts: 4 Newbie
Hi
Looking for a bit of advice, what are the chances of me & my husband getting a mortgage with a 5 year old default - have a 8% deposit for a £165K mortgage and we earn just over £50K combined?
Looking for a bit of advice, what are the chances of me & my husband getting a mortgage with a 5 year old default - have a 8% deposit for a £165K mortgage and we earn just over £50K combined?
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Comments
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How much was the default? Is it satisfied and if so when?I am a Mortgage AdviserYou 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.0
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8% deposit - can you not stretch further on deposit?I 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 -
We are paying back the default at £200/mth and we have 9months to go. We could possibly get £15K for the deposit.0
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The original default was for £4k approx. and was due to the fact that I was ill and unable to work. We have been paying back as much as we can since I was working again and we are desperate to buy. Would it help if we try to pay back quicker the date of the default is 03.06.10.0
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The date of the default is 3 months from now - it should'nt on your credit report yet, so long as you buy before then you should be fine :P
I think you have the wrong date;)I am a Mortgage AdviserYou 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.0 -
Hi yeah I edited it as I realised later that I had put the wrong date it should be 03.06.10. Do you think that we would have any chance of a mortgage?0
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Based on what you have said if you can not get a mortgage I would be very surprised.
It will be difficult to get anything over 90% but not impossible.I am a Mortgage AdviserYou 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.0
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