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  • FIRST POST
    • leiigh25
    • By leiigh25 16th Apr 18, 1:07 PM
    • 1Posts
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    leiigh25
    5% deposit with default?
    • #1
    • 16th Apr 18, 1:07 PM
    5% deposit with default? 16th Apr 18 at 1:07 PM
    Does anyone know of any lenders that will entertain the following adverse credit:
    I have a CCJ - Registered in Jan 2014, satisfied same year.
    My partner has a default - Registered June 2015, satisfied the following year.
    The problem we are facing is that to do 5% we have been told by most lenders that my partner's default has to be over 3 years old (so June 2018)
    I know we are only a couple months away from that but we have fallen in love with a property and wondered if anyone knows of any good lenders/brokers that could help us now?
    Any help would be greatly appreciated.
Page 1
    • Neutrinno
    • By Neutrinno 16th Apr 18, 2:13 PM
    • 200 Posts
    • 94 Thanks
    Neutrinno
    • #2
    • 16th Apr 18, 2:13 PM
    • #2
    • 16th Apr 18, 2:13 PM
    Even over the 3 years in a couple of months, I'd be very surprised if you were accepted at 5% with a CCJ and recent default on your credit files. Fitting lender criteria is one thing, but being accepted is another. It will be subject to the lenders internal credit score. You will already be deemed high risk to the lender based on the deposit size but will also be applying with a couple of previous credit issues. If not possible on the high street you may need to look more specialist lenders with a larger deposit; 10-15%.
    Last edited by Neutrinno; 16-04-2018 at 3:13 PM.
    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.
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