Spouse visa plus adverse help please

Itsabouttime

Hi all, 

I have been lurking for a while and finally plucked the courage to ask the question. My husband and I are looking to but a house. My husband is on a spouse visa and we both have defaults 6 in total which are 4 years old and older (4 are 6 years 2021, youngest is 4 years). We would really like to purchase a house together but I have read the struggle of spouse visas and mortgages and also defaults and mortgages. I already have a mortgage so not a FTB. Our numbers are Total income- £88500, Deposit 80k, ideal house 350k (so about 77% LTV). I think help to buy would also reduce this by 20% making it 57%LTV. I don’t know if that’s how it works. An advisor mentioned we had to wait until only 1 issue was there so either wait for his permanent residence or wait for the defaults to drop off? Is this the case or are they lenders who would proceed? Hoping someone can help. Thanks

haras_n0sirrah

There are lenders who are ok with spousal visas and there are lenders who are ok with adverse. Is a 25% deposit possible as I believe that will open options with the spousal visa. The credit files and how things have been recorded will be key. Best thing to do is to speak to a broker. If you dont have one there are a number of us who post here who are independent brokers. Read the boards and see who you feel gives good advice and send a pm. We are not allowed to approach forumites but most of us are happy to respond to pm's.

Itsabouttime

Thank you so much for replying. Do you think it is easier to aim for a non help to buy property? I have seen that a lot of lenders who include non eu request 75% LTV I just wasn’t sure if including HTB would count or if 75 % cannot include HTB.Thanks

haras_n0sirrah

Hi. I missed the help to buy

Yes that would count towards it so that will open  up the lenders (a lot require 25% deposit without permanent right to reside)