Adverse credit mortgage

Flowerpot1987

Good morning all, 

I'm in a bit of a sticky situation with my mortgage. A couple of years ago, I was extremely lucky to buy a house at a reduced price from my Mum and Step Dad. The 40% gifted equity worked as my deposit, enabling me to get a mortgage of £155k (at 7.9%!) with UTB. This was on the premise I would be able to get a high street rate in 2 years. I have then since had no problems, I have a relatively well paying job of £70k pa and no hire purchase or other debts. 

Last year, I lost my Step Dad and beloved Gran in very rapid succession - whilst Mum was sorting out finances, I stepped in to support her financially and covered funeral costs etc. This unfortunately meant I missed one mortgage payment completely (July) and paid reduced amounts on the other two until I got back on my feet (May/June). I also missed a credit card payment due to the angst of the situation (July). I have paid the arrears back on-time since then (apart from January and February this year due to lack of sick pay at work - my contractural mortgage payment was made on time and in full). 

My mortgage is due to expire in July, and I will then be on an SVR of 9.2% adding an additional £200 to my mortgage. The problem is, I want to sell and take on a property in a different area (I have around £110000 equity in the house - looking to borrow around £200k, so not a massive increase in my borrowing now. 

What are my chances of securing a new mortgage with this in mind? I should add I do have historic defaults and a CCJ - but these are from 2020, not recent. Can you recommend any brokers / lenders who might consider me? 

ACG

It should be possible and likely at rates lower than you are paying now. But I think you will struggle to get high street rates. 

RelievedSheff

You will definitely need a broker who is experienced with adverse cases to place your application.