My partner and I are hoping to buy our first place in the near future however I have 4 defaults from 2016 - 2018 on my file. These are all settled at 0.00 and her credit rating is immaculate.
We have a £40k deposit and was looking at properties between £230k - £250k, so we have over 15% deposit. How likely would it be for us to be approved for a mortgage with these defaults? I have taken all the steps
to improve Credit rating but just these defaults dragging me down (Experian I am in Fair category, and ClearScore is 301)
Hi, thanks for getting in contact.
Based on the above information I believe you will have a good chance of approval although it will of course come down to the finer details.
It's an ever changing market right now therefore the bigger your deposit the greater your chance of success.
Thank you David