my partner and I are ready to go with a 5-10% deposit when we discovered he has a default that’s 2 years old for £36, which is now settled, other than this his credit rating is just low.
I have pretty good credit rating with no history of late or missed payments.
do you think we’re in with a chance of a mortgage in the current climate?
Many highstreet lenders have reduced their maximum loan to value in the wake of the pandemic.
If this is the only adverse recorded there may be a solution depending upon the rest of the case.
If you can get to 90 percent loan to value will strengthen your chances.
Best of luck