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Mortgage with 4 defaults?
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TheWhales
1 Posts
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29/06/2021 - 1:16 pm

Hi. Bit of a premature question, me and my partner will be looking to buy a home at the end of next year or a bit later. We have a combined income of around 35k and a house in the area we want can be around 130-160k. We will comfortably be able to get a 10% deposit. The only issue we have is i have 4 unsettled defaults on my credit file, they will all be over 3 years old by summer next year and they total around 1300. Im just wondering if it is possible to get a mortgage with my situation? My partner has a great history and mine is looking good recently besides those defaults. I can also pay these defaults off but not sure whether unsettled or settled makes any difference, been recommended this site by a family but scared i would be wasting time saving up for something impossible. Thanks alot

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157 Posts
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29/06/2021 - 1:16 pm

Hi,

It is difficult to know what the lending landscape will look like in the future, but I’d say there is a fair chance of this being achievable

15 percent would give you a much better chance but I certainly don’t this is impossible to achieve

It is obviously imperative you don’t have any more recent missed payments or worse and your bank account conduct is well managed

Best of luck

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