New Mortgage with past adverse credit

Lionman118

Hello everybody, 

Been scrolling these pages for a long time but 1st time post.

I have a question and if anybody has an answer for me that would be great and muchly appreciated!

So me and my wife sold our house at the end September 2025 and have moved into her parents house for the moment. 

The reason for selling was due to the fact we want a fresh start as was going through alot of fertility treatment which hasn't worked out and want to start again knowing we won't be having children.

Obviously over the last 5 years we have had many loans and credit cards with a few missed payments here and there due to spending all our money on treatment. 

There's a couple of defaults dating back to 2022 but all settled shortly after. 

After the sale of our house we paid all our debt off completely and are now debt free.

So now the big question is are we going to be able to get a mortgage? 

I am on 52500 basic with 4000 OT per year and my wife is on 10500 basic with 24500 OT per year. 

The reasons behind all the debt fall to the fact we were going through fertility treatment.  But as there is no way that can happen now, there's no need for us to get anymore loans or max our credit cards 

I'm guessing we will have to use an adverse lender and am hoping for an interest rate of under 6% but what do you think our chances are? 

Many Thanks
Lionman118 

sammyjammy

How many defaults and for how much? Are they actual defaults or are they late payment markers?  I'm no expert but on the face of what info you've given i don't see you would need to go to an adverse lender, a good whole of market broker however would be worth their weight in gold for this.

Lionman118

Thanks for getting back so quick

The defaults are for 639 and 2101.

On check my file. It has a D as the worst payment but tbh I never knew I had any defaults. 

Lionman118

We also do have a MIP/ DIP from L&C and we have spoke to a financial advisor from Romans estate agents who have told us how much we can borrow etc 

But they dont actually look at your credit file and it worried me that if we put an offer in on a house , we then wouldn't be actually able to get a mortgage

ACG

Speak to a broker. 
I would like to think you might be able to get this through without needing an adverse lender. It might not be high street, but a little building society somewhere where the broker can have a conversation with the underwriter and explain the situation - assuming you are happy for that conversation to take place. 

If not, then it probably will be an adverse lender for 2 years until everything becomes a little more historic. 

I think you will be fine though. 

Lionman118

Thanks so much for your comments. Made me feel alot better

gwynlas

Sorry to hear of your circumstances.

Presumably having paid off your debts you still have a reasonable amount left for a deposit?.

You need to look at a whole of market  broker rather than one tied to an EA with possibly limited products.

Lionman118

We currently have 80k plus saving 2400 per month but obviously want to use some of that for stamp duty

Sorry what do you mean by whole of market broker? And not one tied to EA? 

Thanks