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Bad credit mortgages

3 replies

Firstimemama · 07/01/2019 18:08

Hello, pretty new here! Me and my partner are looking to purchase our first home this year, we have saved for a 10% deposit. However, when we came to investigating our credit scores I was shocked to find out my partner has defaults from 2017 (these have all been paid off) and the total amount was £3 ish. This resulted in his credit score now rating 'really poor'.
I wouldn't be able to get a house on my salary alone and I know we are more than likely to be turned down by high street banks .. has anyone got any advice? I'm so stressed, I've just had a baby and we are currently living at my parents which is lovely but I'm ready for my own home now!

OP posts:
Mumof1DS · 08/01/2019 16:40

See a broker. There are mortgage companies who will lend to those with adverse credit, but you will pay more for it. They will also be able to advise whether you need to go with a specialist lender or whether you could be placed with one of the more forgiving high street lenders. They will assess your affordability too so you can see what is realistically within your budget.

Ta1kinPeace · 08/01/2019 17:14

Ignore your credit rating.
Talk to a broker.

MonsterBingo · 08/01/2019 20:28

Find a broker in your area or contact a company like loan.co.uk or habito.com, they should be able to help you.

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