Mortgage with bad credit.

Olliejoe

I’m just looking for a little advice to see if anyone else has been in this situation as i’m One of life’s big worriers! My partner and I want to buy our first home together but I have 5 defaults registered on my credit score (due to a divorce leaving me with nothing). These were registered in late 2013 and 2014 so are over 4 years old, and we’re all settled in 2015/16.

My partners credit is good but Santander just turned us down for a mortgage. Our financial advisor is now looking at other lenders but i’m So worried we will get refused again. We have a 27% deposit.

Has anyone else been in this situation at all,

Thanks.

ACG

Im surprised Santander were recommended.
There are potentially 2-3 high street lenders I would try but you may need to look at specialist lenders as a back up. Worse case scenario rates should be no more than around 3%, but there is no reason why they could not be closer to 2% depending on the finer details.

Olliejoe

Thank you. I was guessing it would be rejected. Fingers crossed something comes up for us.