Mortgage with Defaults

Matt_blyth

Hi there,

My partner and I will be looking to apply for a mortgage to buy our council house. The market value is £182,000 but with our discount we only need to pay £112,000 so we're already in equity by £70,000

My annual income is £60,000 and my partners is £9,500.

My partners credit score is perfect, but the catch is my credit score. My score is currently 983 and I've 6 satisfied defaults all over three and a half years, the majority our over 5 years old. I've two credit cards with a total amount of credit of £3,750 (the balance is zero on both cards)

Would we be able to apply for a high street mortgage with my defaults?
We could also provide a £80,000 deposit which would mean only a mortgage of £32,000?

Thanks

Nickuk84

Your walk it! Any broker will sort you out. I am in same situation with defaults and trying to get 90% mortgage most are saying 85% so the fact you have that much it wont be a problem. Just find a cheap whole of market broker and they'll do work for you too.

Matt_blyth

Thanks Nick, it's thanks to my father in law who has helped us raise the deposit. I'll try a whole market broker. Good luck