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Can we get a mortgage with these circumstances? Seeking adverse broker

nigelf12345
nigelf12345 Posts: 5 Forumite
Seventh Anniversary First Post Combo Breaker
in House buying, renting & selling
Hi there me and my partner want to buy a property.

Mortgage value 200-220k
Current deposit 14k with option to increase via family gift
Salary 23.5k me
Partner 28k

I have 3 defaults 

1. Date registered 10th may 2024 date of satisfaction 23rd August 2024 amount £499
2. Date registered 9th may 2024 no satisfaction date listed but Experian confirmed no date marked as satisfied but Experian confirmed satisfied amount £278
3. Date registered 9th may 2024 satisfied 10th September 2034 amount £278

I was on a DMP in 2024 and partially settled with every creditor. I did not check my credit file and that’s why the missed payments continued into January 2025 as I didn’t realise there were further outstanding lines of credit connected to me.

Missed payments
2020 9 missed
2021 0 missed
2022 0 missed
2023 3 missed
2024 42 missed
2025 1 missed in jan 2025
2026 0

Loans outstanding loan
4k debt consolidation loan

Partner
Perfect payment history 
5k car finance 
1500 personal loan
1500 PayPal credit

Comments

  • nigelf12345
    nigelf12345 Posts: 5 Forumite
    Seventh Anniversary First Post Combo Breaker
    I am looking to get a mortgage with my partner.
    properly value 200-210k
    deposit 14k

    i have adverse credit and need an advisor who specialises in this. I would like to discuss my circumstances and specifics via messages to see if a mortgage is even possible 
  • ProcessMatters
    ProcessMatters Posts: 51 Forumite
    10 Posts
    Short answer: yes, a mortgage is possible, but not on mainstream terms right now.
    With 3 recent defaults (2024), a DMP ending recently, and missed payments into Jan 2025, high-street lenders are very unlikely. Most will want at least 12–24 months clean history after the last missed payment or default.
    Your combined income roughly supports the loan size, but the credit profile is the blocker. An adverse-credit broker is the right route, likely looking at specialist lenders with higher rates and a larger deposit (family gift will help).
    If you can wait 12 months with no missed payments, settled defaults showing correctly, and balances reducing, your options and rates improve a lot. Applying too early just risks rejections and more damage.
  • Ayr_Rage
    Ayr_Rage Posts: 3,961 Forumite
    1,000 Posts Third Anniversary Photogenic Name Dropper
    edited 10 January at 10:04AM
    DUPLICATE POST

    Reported for merging with

    https://forums.moneysavingexpert.com/discussion/6649817/can-we-get-a-mortgage-with-these-circumstances-seeking-adverse-broker#latest
  • soolin
    soolin Posts: 75,065 Ambassador
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    I've merged the two threads so that responses aren't duplicated.
    I’m a Forum Ambassador and I support the Forum Team on the eBay, Auctions, Car Boot & Jumble Sales, Boost Your Income, Praise, Vents & Warnings, Overseas Holidays & Travel Planning , UK Holidays, Days Out & Entertainments boards. If you need any help on these boards, do let me know.. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.All views are my own and not the official line of MoneySavingExpert.
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