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Default, can we get a Mortgage?
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Onourwayup
Posts: 5 Forumite
Hi everyone. I am new here and joined to get some advice /experiences for getting mortgage with bad credit history.
I have two defaults on my credit report. One is from 5 years ago which is now just £601 and the other is from last year for £1700.
We are planning on paying off these and I have got a credit card to rebuild my credit history. My score is just 312 on clearscore put of 700 and on the checkmyfile it came up as 482 out of 1000.
We will have £15k from parents ready for when a shared ownership comes up but our biggest barrier is my credit score.
How likely is it we will get a mortgage for a shared ownership?
I have two defaults on my credit report. One is from 5 years ago which is now just £601 and the other is from last year for £1700.
We are planning on paying off these and I have got a credit card to rebuild my credit history. My score is just 312 on clearscore put of 700 and on the checkmyfile it came up as 482 out of 1000.
We will have £15k from parents ready for when a shared ownership comes up but our biggest barrier is my credit score.
How likely is it we will get a mortgage for a shared ownership?
Debt as of 19th Feb £0 /£6,887
0
Comments
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Best thing to do I would suggest is get the ball rolling and seek out a mortgage broker that specialises in adverse credit. They can give you all the advice you need and point you in the right direction. I would suggest definitely do everything in your power to try to improve your credit first. Good luck x0
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There will be option available for you, use a broker. Ignore your credit score, it means nothing.I am a Mortgage Broker.
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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