Applying for a mortgage with bad credit

Lucy_McDonnell

Would anyone be able to offer advice based on applying for a mortgage?

Five years ago I got a default on my account and have worked tirelessly since then to build up my credit score. I'm now at 811 with Experian and my financial adviser tells me I should be fine getting a mortgage with this score (hence maybe not getting such a great interest rate), as my partner has an excellent rating with no debt etc etc.

We've started going down the route of looking at new-builds, and while I'm starting to get excited, I don't want to get my hopes up of being refused. Does anyone know if I will be ok getting a mortgage based on this? 2 years ago I was granted finance on my car which gave me some glimmer of hope!

Thank you!

Helvetica_Van_Buren

Your credit score is meaningless - credit reference agencies don't make lending decisions and lenders don't see your score. Even if you printed it off and waved it at them, it would have zero effect on their lending decision.

What matters is your credit history: the recorded information within your credit report.

Not one person on this forum will be able to tell you whether you will or will not be accepted for a mortgage. Go to a broker and they will attempt to find you the best deal based on your circumstances (your credit score won't factor into it). Or wait it out for bad information to be pushed further down your report with the passage of time, or drop off altogether after six years.

National_Debtline

Hi

Helvetica is right that using a broker is the best plan if you need to apply for a mortgage with a poor credit history.

There is a mortgage section of this forum where some people who work as mortgage brokers post, so you might be able to get some useful advice there.

James
@natdebtline