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mortgage one applicant perfect history one with defaults
slimzoe
Posts: 75 Forumite
hello after some advice, we are currently renting looking to get a mortgage, bit of background.
OH has a perfect history and his Experian score is currently 999, he has 1 black horse loan which is our caravan.
i have 4 defaults on my history (September last year, November last year, march this year, February this year this last one was with uncle buck who, incidentally i paid off just before the went bump) i also had an aqua default but successfully had this removed as it was bought by Cabot who also recorded a default on the same debt.
I have no outstanding debt as used money from house sale last year to clear, i have an Indigo Michael account which i use to try and improve my score by borrowing £100 and paying it back straight away.
we have a £40k deposit, looking at a £280k house with a combined income of £80k a year currently renting and the rent is about £150 less than we anticipate mortgage costs to be.
I had a broker tell me we wont get a mortgage at all but, having seen a few comments n here it looks like a good broker could maybe help, happy to go higher interest for a few years and then we can remortgage when my world is better.
what are your thoughts?
OH has a perfect history and his Experian score is currently 999, he has 1 black horse loan which is our caravan.
i have 4 defaults on my history (September last year, November last year, march this year, February this year this last one was with uncle buck who, incidentally i paid off just before the went bump) i also had an aqua default but successfully had this removed as it was bought by Cabot who also recorded a default on the same debt.
I have no outstanding debt as used money from house sale last year to clear, i have an Indigo Michael account which i use to try and improve my score by borrowing £100 and paying it back straight away.
we have a £40k deposit, looking at a £280k house with a combined income of £80k a year currently renting and the rent is about £150 less than we anticipate mortgage costs to be.
I had a broker tell me we wont get a mortgage at all but, having seen a few comments n here it looks like a good broker could maybe help, happy to go higher interest for a few years and then we can remortgage when my world is better.
what are your thoughts?
0
Comments
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I have a feeling your defaults will be too new for even the adverse lenders but have a chat with a mortgage broker who specialises in adverse lending.1
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I'm sorry to be the bearer of bad news but we've just had to pull out of a purchase because of my past defaults. I had four, dated between 2017-2019. All paid in full but no one would touch us with a mortgage, even adverse lenders. Husband has excellent credit rating and no previous problems. There was one company that offered to help, but they would only offer us 70% LTV and we needed 80%0
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Stop the indigo account. It serves no purpose.
Ignore the credit score and rating as it's not seen or used by any UK financial institutions. It's the credit history they use as part of their assessment.
Speak with a good who of market mortgage broker to see what your options are.Mortgage started 2020, aiming to clear 31/12/2029.0
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