Can we get a mortgage?

Yorks1990

This is my first post. Im looking for some advice on whether it is worth us even applying for a mortgage in the near future.

My husband has an excellent credit report with no missed payments etc. However I have 4 defaults that are almost 5 years old.

We have a 15% deposit and want to borrow roughly 1.5 times out joint income.

Is it possible?

muhandis

With a 15% deposit and 1.5 times income, it should definitely be possible. A search on these boards will show many posters who have been offered mortgages with defaults more recent than yours.

However the only person who will be able to tell which lenders might be suitable is a mortgage broker who has looked at your credit report and your personal financial circumstances in detail.

Having said that, in your place I would aim to sit tight until the defaults drop off my credit report after 6 years and then think of getting a mortgage just so I can get a wide choice of lenders and thus a low rate.

Yorks1990 wrote: »

This is my first post. Im looking for some advice on whether it is worth us even applying for a mortgage in the near future.

My husband has an excellent credit report with no missed payments etc. However I have 4 defaults that are almost 5 years old.

We have a 15% deposit and want to borrow roughly 1.5 times out joint income.

Is it possible?

amnblog

Yes, you should be able to obtain lending now, subject to other factors.

Use a mortgage broker.