Adverse Credit Mortgage - help please!

Daveo555

Hi everyone, 

First time posting here so bare with me. 

I’m looking for some help with an adverse credit mortgage, more so would we qualify and what rates to expect - I know this is not an exact science but just looking for some opinions/help. 

We’re first time buyers, my partners credit file is pristine and mine is not. I have 3 defaults on my file from just short of 4 years ago, for the values 8k, 5k and 1.5k. All have been settled in full, the last being paid off around 3 months ago. I also have around 10 payday loans dating back to around 4-5 years ago. 

Apart from that part of my file which is pretty messy there’s been no other issues since. 

We have managed to save a deposit of just over £42k and have a incomes of 55k and 36k (96k combined). We live pretty my close to London so properly value is high, most likely looking at around a 300k mortgage, do we stand any chance at all or would we just being wasting our time? 

If we do stand a chance, anyone know what kind of rates we would be facing? 

Thanks in advance! 

ACG

With a 15% deposit, there will be lenders out there I think. 
Rate wise, im not sure potentially this could be placed with a little building society and rates of maybe 4.5% could be possible. 
Worst case would be a specialist lender and I think you could be looking at closer to 7-8% for 2 years. 

I think because of the LTV and the size of the defaults, you might struggle on the high street. Its worth a punt maybe, but I am not sure I would be overly confident.