Mortgage with bad defaults?

BAMBIESFRIEND

Hi there, i am after some advice.

Me and my boyfriend are looking to get a mortgage together. His house is currently on the market and he has excellent credit and earns £38000
I on the other had have poor credit. No CCJs, IVAs etc but many many defaults (mainly to do with ex husband but no point going into that).
I earn £25000 a year and have 2 dependents. All debt is clear now except 1 with the waterboard of £4000 that i have just set up a plan with.

For us to be able to afford a 'family' home we both need to be on a mortgage. Unfortunately they dont take into account i havent missed a rental payment in 11 years!

I know i wont be able to get one through a high st lender but what is the likelihood of getting a mortgage?

We have an appointment with a broker at his friends estate agents and i feel so embarrassed

ACG

You do not say how old the defaults are, but there is potential for high street if they are old enough.

You also do not say what your deposit is percentage wise.

Those 2 factors will determine if there are any options out there. General rule of thumb, 15% deposit can overcome a lot. But there may be options with a smaller deposit.

I do a lot with adverse, no need to be embarrassed. The broker will hopefully have come across adverse before and I can guarantee you are not the only one.

BAMBIESFRIEND

Thanks for your reply.

Unfortunately there are recent defaults (within last few months as was focusing on clearing all other debt)

We have £30,000 deposit and the houses that are suitable are £250-280,000

ACG

If they are all within the last year you are going to need a bigger deposit, minimum 15%, possibly 20%.

BAMBIESFRIEND

Thank you for your advice