Improving my Credit File with a view to getting a mortgage

MrFreshers

Hi
I am mid 30s and have never had a mortgage.
My financial situation has been terrible since I was 19 or 20.
On my credit file I currently have 5 defaults and 1 CCJ.
My total debts are around £7k
My credit score is around the 400 mark.
I have the money to pay off my debts in total within 4-5 months of this post, so they are not a huge issue in that respect.
How will I ever get a mortgage?
My CCJ should disappear in 2022
My default end dates range from 2022 to early 2025.
My wife knows nothing of this, although she is aware that I have a poor credit rating.
Ideally we would aim to be applying for a mortgage in 2 years, with a deposit of between 10-15% on a 200-250k house. Therefore total borrowing of approx £200k maybe. Currently our joint income is £65k - of which £38k is me.
Am I living in a dream world thinking I have a chance of getting a mortgage any time before 2025 when my defaults have all disappeared? Furthermore, how can I improve my rating from 400 when nobody will lend me any credit?

Thanks.

D3xt3r5L4b

A. Your score/rating is irrelevant 
B. Clear you debts down
C. Use a lender that specialises in those with adverse credit and be prepared to pay a higher interest rate and to have to openly admit about your debts on a joint mortgage
D. Tell your partner the truth about what’s going on (which coincides with point C)

MrFreshers

Thanks for your reply.
I don't understand why the score is irrelevant?
What is relevant when applying for a mortgage then?

[Deleted User]

Your credit history, financial circumstances and how you manage your accounts.

Willing2Learn

Because a mortgage lender will not use your 'score' or your 'rating'.  Mortgage lender will 'score you' against their independent lending criteria and policies, using the data held in your three credit files, added to the data you submit in an application, added to the data they may already hold on you as an existing or returning customer.

Nelsonje

I use Loqbox to improve my credit score. I moved over from New Zealand last year so didn't have any credit history. Essentially you pay into it like a loan and they report your monthly loan repayments to the three credit reference agencies, which shows them how you can handle credit and improves your credit worthiness. It's a slow burn but it's a start. 

Steve_KCS

MrFreshers said:

Thanks for your reply.
I don't understand why the score is irrelevant?
What is relevant when applying for a mortgage then?

Lenders do not see your score. They see your history. Keep clean and pay off your debts. Get everything in order. 
As soon as you can get a credit card, get one. Pay for petrol on it and clear it off. The longer you're with them the more chance theyll increase your credit limit. 
So that you are now responsible and it'll quickly build up. 
Be honest with your wife too and get her support. Show her your plan. 

[Deleted User]

Loqbox is a very poor way of building credit history, unless you're right at the bottom of the financial pile.

D3xt3r5L4b

Nelsonje said:

I use Loqbox to improve my credit score. Essentially you pay into it like a loan and they report your monthly loan repayments to the three credit reference agencies, which shows them how you can handle credit and improves your credit worthiness. It's a slow burn but it's a start. Message me if you want a referral link. 

Loqbox is a last resort thing.

Also this isn’t a referrals board.