Motagage and defaults? Help.

Scottmini1988

Hi, I am looking to buy my first home. I am looking to buy a property for around £145000 with a £17000 deposit meaning I need to mortgage £127000. I currently earn around £27000pa.
I'm 28 and have been in the same job for almost 11 years and have no dependants. Unfortunately around 4 and 1/2 years ago I got 3 defaults when i fell in into a little financial trouble. All 3 defaults total just over £3000, all defaults have been paid off in full just over 2 years ago. Basically what I'm asking before I go to the bank is, does anybody have any experience in a similar sitiuation and do I have any chance of being accepted for mortgage that does not require. 20% deposit.

Thank you in advance.

Arleen

With adverse credit history you will want to use a broker who specializes in those cases, they know with whom to put your application to have best chance of success.

National_Debtline

Hi

Arleen has given you some good advice. There is also a specific mortgage section of the MSE forum and I believe some of the regular posters work as mortgage brokers. It’s worth asking for opinions there too.

James
@natdebtline