I’ve had a late payment over 12 months and a default over 18 months ago on a balance of £760 which is now settled at £0.00.

would it be still possible to get a first time mortgage around 230k with my partner with a 10-12% deposit. Both in stable jobs earning around 30k a year.

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Hi Robert,

Your situation is borderline I’m afraid and will come down to the finer details.

Other things being equal, 15 percent deposit would be much more likely to provide a solution.

Since the pandemic, many lenders have removed products at 90 percent loan to value and above

If your bank account conduct is extremely strong and demonstrates affordability, combined with good reasons for the missed payment/default there may be solutions at your current deposit level

All the best


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