Can anyone give me advice on mortgage with "bad credit"

[Kf2017]

Hi

So me and my husband tried to get a mortgage in 2011. No luck at all.

Current situation is fairly bad credit with outstanding defaults (due to high rents/childcare and poor attitude in the aftermath of mortgage rejection). Outstanding debts of about 9k. These can be satisfied but will compromise deposit amount. Joint income is around £50k.

We can get a mortgage together of between 15-20k.

Is it impossible? Will anyone out there give us a mortgage? Should we give up and concentrate on becoming debt free?

Thanks for any advice

If you were rejected in 2011 and this has been followed by more defaults / late payments (as in multiples) then IMO I wouldn't say it looks too hopeful, but no one can say for sure until you apply, or even better, see a broker.

Personally if I were in your shoes I'd focus on paying off your debt and trying to clear up your credit worthiness then think about a mortgage.

The debt forums here are populated by very knowledgeable folk who have given me great advice on similar issues.

www.consumeractiongroup.co.uk/forum/forumdisplay.php?285-Debt-problems-including-homes-mortgages-PayDay-Loans

My understanding is that if you have defaults on your credit files, that unfortunately kills a mortgage application dead and they remain on your record for 7 years. Assuming these defaults happened in 2011, they will 'drop off' your record in 2018. You would be better advised to wait until then. Given that this is only next year, you could use the intervening time to work towards becoming debt free and / or increasing your deposit?

I would start by looking at the information on your credit files, get an honest appraisal of the situation (what defaults and when), see advice from CAG on any specifics (i.e. if there is something you dispute) and then take it from there.