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80% ltv mortgage with mortgage defaults over 12 months old
whispy25
Posts: 18 Forumite
Are there mortgage lenders out there that will lend with secured defaults over 12 months old with 20% deposit?
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Comments
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https://forums.moneysavingexpert.com/discussion/6228678/let-to-buy-mortgages-with-high-debt-to-income-ratio#latest
It's easier to wait for people to reply to your threads than keep throwing them up with different information and aims.Mortgage started 2020, aiming to clear 31/12/2029.1 -
Possibly.
It will depend on how everything appears on your credit report. You may need to get to a 25% deposit though.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
I have two independent applications, one on my own property and one on a potential new home with my husband, both with different complications unfortunately.
My credit report is clear. My husbands is not0 -
Hey ACG i really need/want a mortgage but the highstreet banks keep offering me only based on my wage. Is there anyone you know or what I can do to potentially get a higher mortgage. I have a deposit there its just my wage which is stopping me at the moment.ACG said:Possibly.
It will depend on how everything appears on your credit report. You may need to get to a 25% deposit though.0 -
Your income and expenditure will support a maximum mortgage. If you have a £10k income and a £950k deposit, you are probably not going to be able to get a million pound house.Haylzx said:
Hey ACG i really need/want a mortgage but the highstreet banks keep offering me only based on my wage. Is there anyone you know or what I can do to potentially get a higher mortgage. I have a deposit there its just my wage which is stopping me at the moment.ACG said:Possibly.
It will depend on how everything appears on your credit report. You may need to get to a 25% deposit though.
Every lender has to do an affordability check, but every lender differs on how they do that so it can be possible to stretch your income but it really depends on your circumstances. If your income is £20k and you want a £200k mortgage for example that isnt going to happen. If you want £100k it might be possible.
I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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