Mortgage Success with bad credit history??

Hey all,
I wondered if there were many people on here who could report back mortgage success stories with a poor credit history? It would be great to hear your circumstances and what banks accepted you.
I'm hoping to apply for a mortgage with my partner who has a poor credit history (some previous mortgage arrears and a satisfied default 3 years ago), and I wonder if I'm too optimistic.
It would be great to hear anyone's success stories or anything that helped them.

Replies

  • DCFC79DCFC79 Forumite
    40.4K Posts
    Part of the Furniture 10,000 Posts Name Dropper
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    A broker might be a good option.

    I take it your partner has shown you her credit file or was honest with you and not hiding anything from you ?
  • The length of the mortgage arrears and how long ago they were may be an impact but depends on those facts. The satisfied default again can depend on the amount different lenders have different limits i.e. some are OK if you were no more than £250.00 default and satisfied some as far as £1000. Its also important whether it has been satisfied for 3 years or registered for 3 years and how soon it was satisfied, a broker would definitely be a good idea.
  • abkabk Forumite
    7 Posts
    Yes he's been very open and honest about his credit history, so there is nothing hidden. The default was for £398 and satisfied 2 months later in October 13.
    They had arrears from Jan-Aug 13, and an arrangement to pay was put in place which was paid on time (but reported as a bad payment for credit report purposes).
    I would definitely speak to a broker, but there seems to be no positive news in regards to mortgages anyway, and I just wondered if anyone had some positive news with a bad credit history.
    I have a very gloomy outlook and don't expect much from our banks
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