RTB Mortgage with Historical Defaults?

Red1708

I'm wondering if it's even worth us trying to purchase our home so I'm hoping for some advise.

I've just qualified for the RTB scheme, the tenancy is in my sole name although my husband is registered on the RTB offer too. The property is valued at £73k and we have a 35% discount so the purchase price would be around £48k. We both work full time, my husband earns a basic salary of £32k with O/T of around £300 per month & I earn £19k but I'm starting a new job next week with a salary of £28k.

We applied to Halifax and received a DIP an then after speaking to one of their advisors started the process. In hindsight, I now realise it was stupid not to check out our credit reports prior to this, especially as I know I personally have some old debts. So we've naturally been turned down.

Having just checked my report I can see I have 5 defaults, all dating back to Jan - May 2011. One has had the account closed with a balance of £1200, others are showing D with balances of £122, £87, £459 & £847.

My husband has had no adverse credit at all. I have maintained a good paying history since then, bank accounts, utilities are all in my name, mobile phone contracts, next & very account (both of which have over a £4k limit with £900 being owed).

My husband is unable to get a mortgage in his name only as the tenancy is in my name. So I was wondering is it a waste of time for us? Are we better getting these debts settled & then applying when they've fallen off or is it possible to apply maybe 6 months after they've been settled?

Any advice would be greatly appreciated.

ACG

One for a broker.
A lot to overcome (not just the defaults) but I would imagine with that sort of equity and plenty of income there should be lenders for it.