Mortgage with settled defaults

kimvincent2604

Hi,

My partner and I are looking at buying a house together and getting mortgage. He owns his own house and we will have roughly a 50% deposit. His credit rating is very good (999).

When I was made redundant I made some mistakes. Missed payments, as a result I got defaults on my credit record. All the defaults are settled and are due to come off in 2018.

I have a mobile phone, broadband and bank account all active and up to date. And 19 settled and satisfied accounts including pay day loans.

Will the 5, balance 0 defaults stop us from getting a mortgage?

Any help gratefully received

ACG

No. Your deposit and the age of the defaults should overcome them.
The tricky part however will be getting you "normal" rates. That should also be achievable, but the devil is in the detail.

I would sugges speaking to a broker to give you the best chance of getting normal rates as not every high street lender would take them on.

David_White

A mortgage should still be possible for you at fairly competitive rates.