Chances of joint mortgage approval with defaults

Mwatson88

Hi, new to this forum.
Me and my partner are looking at buying a house soon, we are looking at houses priced at around £150k with a 15k (10%) deposit, we both have help to buy ISA so we will recieve government bonuses.
My partner has a excellent credit report, mine however, is not, I have a score of 721 on Experian, I have 4 defaults, oldest being 2013, most recent 2014. Since then i have only had mobile phone contracts which I have never missed a payment, so I have no recent bad credit reports.
What chances do we have of getting a mortgage in this situation.

Thanks :j

Mwatson88

EDIT: both have full time jobs, about £50k a year combined

Jonquil87

Hi there,

Iv recently completed a mortgage application with Leeds Building Society and I had a default to my name from 2012 which has subsequently cleared now. But the policy on defaults for Leeds was any default older than 4 years old are not considered. Any under 4 years old are not considered if the default amount is less than £500.

I’m no expert and only quoting the policy from the lender I applied with

Mwatson88

Hi Jonquil87
Thanks for your reply. My last default was December 2014 and was well under £500. So it sounds like I fit into this criteria

Verix

Whether the defaults are satisfied or not will be important to many lenders. There should certainly be lenders that can look at this even if they aren't satisfied given how long ago they were.

Mwatson88

3 defaults are settled, the one from August 2013 is not however and is over 3k