HTB with adverse credit

MsGeorge88

Hiya,

So, my partner & I have reserved a new build property. We are going to use the Help to Buy equity loan to assist us, however we both have poor credit histories. I had a CCJ back in 2015, which is paid off in full, and a few historic defaults which are also paid off. I have a few credit account which I am currently paying off, but I have not had any issues with (missed payments/defaults), but want to pay them off to so I have more available income.

My partner has a CCJ which will be paid off next month. He has a very 'thin' credit history. He got a credit card which he uses to help build his credit history.

We spoke with a few brokers last year who said we would have to apply to a lender who specialises in adverse credit, but it wouldn't be impossible.

I guess what I am looking for are some success stories of anyone who was in a similar situation to ours and secured a mortgage.
We are due to apply for the mortgage around August, I guess I'm worried that we are cutting it fine.

Any advice or experiences welcomed.

Thank you

lukehalbert

Hi V George,
Try precise or Magellan , they are adverse credit lenders.

kingstreet

That may well be placeable at high street rates on HTB depending on the size, registration dates and reasons for the CCJs.

Precise and Magellan could be a sledgehammer to crack a nut.

MsGeorge88

Oh really? I would have thought high street lender wouldn’t ‘touch” us having had CCJ’s.

amnblog

Our poster just needs to trust a suitably experienced broker.