70/30 Shared ownership - Buying the 30% after term - Default history

stressmorgage

So I have had the property 10 years, this is a old scheme via Barretts. Where the builder owns 30%, I do not pay any rent on the 30%. If I where to sell the Barretts gets 30% of the value.

So I have come to the end of the 10 year term, and wish to re mortgage to pay the remaining 30%.

The issue is I have 2x default notices on my account. These account are all paid. I have zero credit borrowing, I have a credit score of 780.
My partner has a clean credit history and a score of 980.

Halifax our current mortgage provider has said they can not lend my money due to the defaulted history and that I would have to wait 4 years for the defaulted account to drop off..

Im not savy and would like some advice, I do see there are lenders that say they will lend to bad credit clients, but i fear being ripped off with interest rates..
Please any suggestions, I am extremely stressed!!

stressmorgage

77 views and no advice...?

csgohan4

consider getting a broker who can match you to a lender potentially