Getting ready for mortgage appliction. Defaults from 2011.

Gommybear

Hi folks,

My wife and I are trying to get everything ready for a mortgage application. We have not yet found a property, in fact we haven't even started looking, but we just want to line up all our ducks and be as attractive a candidate as we can be to the lender when the time comes. We would hope to apply for a mortgage around July/August 2016. So just under a year to sort everything out.

Issues: Four defaults in my name, all satisfied, from 2011. Largest default was for £4000.

Basic Salary is £100,000, wife doesn't work. Property value would be around £250-275k. We have a 30k deposit.

I guess no mainstream lender would entertain us? Would a broker have any luck with this?

In order to get ready for this we have:
Both gone on electoral roll.
Closed all unused accounts bar two credit cards, with zero balance on them.
Have not gone into overdraft for over a year.
We own a house already mortgaged with HSBC and have never missed a payment on that.

Anything else we can do? It's these defaults that have me worried. Worst comes to worst I'll have to wait until Nov 2017 for them to drop off.

Just after some opinion/advice if you could spare the time.

Thanks to you all.

kingstreet

Adverse credit older than three years (from registration) and a decent deposit of 15% or more should provide immediate and high street options.

All three credit files and see independent broker etc.

Hopeful2015

I have two defaults from 2011 and today got a mortgage offer from halifax. From my experience I've found a good broker can make all the difference