Subprime Mortgage

Dave_Ham

Hold on, you have one satisfied default from 2011 across you both and with 15% deposit Precise is somehow the best solution.

Nothing against Precise as they have a place and we use them often, but if this is the scenario then I would have a chat with another broker as you could and should save £'s vs the Precise rate.

kingstreet

I'm with DH.

This should be placeable on the high street with one or two lenders. More potentially, depending on which version(s) of your credit file the default appears on.

timPgoodwin

Dave_Ham wrote: »

Hold on, you have one satisfied default from 2011 across you both and with 15% deposit Precise is somehow the best solution.

Nothing against Precise as they have a place and we use them often, but if this is the scenario then I would have a chat with another broker as you could and should save £'s vs the Precise rate.

kingstreet wrote: »

I'm with DH.

This should be placeable on the high street with one or two lenders. More potentially, depending on which version(s) of your credit file the default appears on.

I see, are you aware of anyone that allows defaults of more than £500? I also have a default from 2011 for a personal computer of £424 but that too is satisfied.


The broker went through Skipton BS who he said are the most lenient on the market for defaults and sub-par credit ratings and whom allow up to £500 defaults and they declined us at both 10% and 15% so I presumed Precise are our only option at present. no?

kingstreet

It would have been helpful to know there were two defaults at the outset, not just the one you mentioned but I would obtain all three versions of your credit file and put them in front of an experienced broker.

timPgoodwin

kingstreet wrote: »

It would have been helpful to know there were two defaults at the outset, not just the one you mentioned but I would obtain all three versions of your credit file and put them in front of an experienced broker.

Sorry I didn't know, obviously, otherwise it would have been stated from the outset - According to the broker the lesser default didn't affect the outcome of our decision so I didn't think it was necessary - I have now amended the original post to state the two defaults.