Borrowing from lender with old (6+ year) adverse credit

risko

My partner and I will be looking to buy our first home shortly, and we are interested in using the Scottish First Home Fund to help us. There are a limited number of providers who offer mortgages for this scheme, some of which are -

HBOS
Barclays
Nationwide
TSB

Plus a few others

I previously have been on a DAS (Scottish DMP) but my six-year history is now totally clean - no defaults, everything up to date etc. I did, however, have defaults with HBOS and Barclays as part of my DAS before this, and I'm aware that some lenders keep their own history that may go further back than six years.

Should I rule out borrowing from HBOS and Barclays or are they sometimes willing to consider applicants where there has been some adverse history with them in the past, particularly consider there has been no adverse credit in the past six years?

Dinpraad

Will also be keen on what the experienced brokers will say about this scenario 

csgohan4

A broker would be useful to see your options for the whole of the market

Thrugelmir

If you've previous "history" with a lender be prepared for a negative response. There's plenty of options open to you. Approach the matter by finding the mortgage deals that suit you best first. Rather than worrying about particularly lenders. Of which there's sufficient to find one that will make you an offer. 

MovingForwards

I would rule any financial institution, and any within their group, for ever having credit with. But that's just me, getting a mortgage / buying a home is stressful enough as it is.

I would also recommend having a broker because of the previous adverse history, some lenders ask if any adverse in the last 6 years, others ask if you've ever had adverse. Saves you a job going through every tiny detail as a good broker will know the lender criteria.

Hopefully one of the brokers will be able to confirm.