Adverse credit

alexj87

Hello
Me and my partner are trying to get a mortgage but we have adverse credit. 
I have 2 defaults with the last year and so does he.  They are all unsettled.. 
We both work full time and bring in round 3000 a month after tax between us
We have a newborn baby
My credit score is now in the fair band and haven't missed any payments in the 12 month period and husband was in fair but dropped as he took out new mobile phone contract. 

We have been to a mortgage advisor but they will only accept 20%LTV where ideally we wanted 15%
Any idea where we can start or likely hood being accepted 

ACG

What is your adverse credit? 
Defaults/CCJs? If so, how many and when were they registered? 

Chances are if you have 2-3 defaults or more, you probably will need a 20% deposit in the current climate. 

alexj87

Defaults on both parts mine drop off in 2 years and his one drops off in a year and the other 4 years
I seen HSBC would need to review it personally do you think chances are?
Our affordability is fine and we keep on top of everything  didn't take any payment holidays during covid and both in full time permanent jobs 

ddonq1412

How much is the defaults for. Some lenders will look at them and make conditional offer that they are satisfied defaults before they would complete a mortgage, do you have the funds in place to pay off these outstanding defaults. as 4 is a high number and 1 being within 2 years ago. 

ACG

alexj87 said:

Defaults on both parts mine drop off in 2 years and his one drops off in a year and the other 4 years
I seen HSBC would need to review it personally do you think chances are?
Our affordability is fine and we keep on top of everything  didn't take any payment holidays during covid and both in full time permanent jobs 

Im not judging you (we do a lot of adverse, if i judged I would be out of a job), but you have 3-4 or more defaults by the sound of it over a 3 year period, thats not really keep on top of everything. 

I dont know HSBCs stance, we do not work with them, but I think you would struggle to get this through with most lenders. HSBC so have some quirky criteria though if you are high earners/bank with them so you never know but in the current climate, you might struggle.