Mortgage with defaults

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gj3350
gj3350 Posts: 2 Newbie
First Post
in Mortgages & endowments
A well trodden topic I know - but here goes!
Wondering on our chances of approval of a mortgage with a High Street lender and therefore a decent rate.
Joint application with my wife who has very good credit history/score.
I however have 3 defaults, over 5 years old (so dropping off my credit file in around 10 months) all satisfied around 4 years ago and clean credit since.
We have over 50k income per year and I'm in  long-term stable job.
We only need to borrow around 40k as a 30% ltv as we have 70% saved.
I believe we are in a strong position with that large deposit and good affordability but still afraid to put in an offer in case the defaults are a straight black mark in obtaining the loan.
Thoughts/advice most welcome guys....go for it or wait till my 6 years are up?
Thanks 

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  • kingstreet
    kingstreet Posts: 38,786 Forumite
    First Anniversary Name Dropper Photogenic First Post
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    Size of defaults?
    I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.
  • gj3350
    gj3350 Posts: 2 Newbie
    First Post
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    Around 20k
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