Barclays lending criteria

Manc17

Hello
This my first post here. My husband and I are hoping to get a mortgage for around 2 times out joint income. However I have 4 defaults from 2012. They are all satisfied.
I am aware we may be able to get a mortgage with s sub prime lender but saw this on the Barclays site
More than 3 satisfied defaults* and the latest is registered within the past 3 years
Satisfied defaults* totalling more than £200 and the latest is registered within the past 3 years

Does this mean they would consider our application or would it be rejected because I have 4 defaults?

Thank you

ACG

Looks like it fits criteria to me, just remember fitting criteria and being accepted can be very different. It may be worth trying to ask their advisor if they think it is likely to pass the initial credit check based on their experience.

If I am using a lender I do not use often, I always ask my account managers that. Some just say they have no idea, others are quite honest and will say if they do not think it will fit.

kingstreet

Manc17 wrote: »

Hello
This my first post here. My husband and I are hoping to get a mortgage for around 2 times out joint income. However I have 4 defaults from 2012. They are all satisfied.
I am aware we may be able to get a mortgage with s sub prime lender but saw this on the Barclays site
More than 3 satisfied defaults* and the latest is registered within the past 3 years
Satisfied defaults* totalling more than £200 and the latest is registered within the past 3 years

Does this mean they would consider our application or would it be rejected because I have 4 defaults?

Thank you

Assuming you have got this from the Intermediary criteria, what it actually says is a bit different from what you have posted;-

Adverse credit as detailed below must be declined:

Any unsatisfied CCJ
More than 1 satisfied CCJ and the latest is registered within the past 3 years
Satisfied CCJs totalling more than £200 and the latest is registered within the past 3 years
More than 3 satisfied defaults* and the latest is registered within the past 3 years
Satisfied defaults* totalling more than £200 and the latest is registered within the past 3 years
Any outstanding default, irrespective of amount
If it is identified that a limited company, in which an applicant has greater than 15% shareholding, has any outstanding judgements totaling more than £5,000.
*Includes partially settled defaults which will be referred out to check whether full and final settlement has been made