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Can we get a mortgage with 1 defualt?
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chelseablue
Posts: 3,303 Forumite
Im waiting on a call back from a broker but thought Id ask here as well.
Is it possible to obtain a joint mortgage when one of the parties has a default?
My credit rating is excellent, have a mortgage in my own name and never missed a payment on anything, credit report all green
My partner has 1 default from 2011, it has been settled
Is it possible to obtain a joint mortgage when one of the parties has a default?
My credit rating is excellent, have a mortgage in my own name and never missed a payment on anything, credit report all green
My partner has 1 default from 2011, it has been settled
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Comments
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Yes, depending on the situation it is possible
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 -
Would it be with any of the mainstream lenders?0
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Potentially yes
Get an Experienced broker and any fee will be offset by the savings..
Best of luckI 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 -
Thank you
I'm hoping that our deposit of approx 40% might work in our favour.
Fingers crossed0 -
I have a default from 2011 and got a mortgage from the Progressive building society. Just go see a broker who knows his stuff.0
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I 'had' a default (satisfied 2010) from 2009 (it's now fallen off last week).
Leeds Building Society gave me a 77% LTV mortgage DIP @ 1.99% a few months ago - so it's possible yes.
I went through a broker, your best bet with adverse I reckon.
Good luck :-)0 -
Thank you all.
Where is the best place to look for a broker that has experience in adverse?
I'm waiting on a call back from London & Country adverse team but would like to speak with another broker for a second opinion0 -
Just a quick update:
Just spent an hour on the phone to a broker at L&C, we now have a DIP with Halifax for £240,000, and that's taking into account his default from 2011.
A decent rate too at 1.5%0 -
Well done!0
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chelseablue wrote: »Just a quick update:
Just spent an hour on the phone to a broker at L&C, we now have a DIP with Halifax for £240,000, and that's taking into account his default from 2011.
A decent rate too at 1.5%
How did that work out chelseablue ?
I had a DIP with Halifax that immediately fell apart as soon as it got to application stage. I was told later that Halifax only carry out a 'soft' search so don't look at the adverse at DIP stage.0
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