These make it HIGHLY unlikely you will get a mortgage from a high street lender – you need to talk to a broker about your chance of a bad credit mortgage

I was going on holiday and commission was delayed by a few months (it’s paid on a monthly basis rather than a one off lump sump) because of covid and the nature of my sector. I know in an ideal world I shouldn’t have taken them out however the holiday was paid and I would have had no spending money for me and the kids. These were the only credit options available, I have paid back a large overdraft in the past few years too, I requested an OD from bank for holiday but it was a no.

The loan is over 12 months and I will be paying the Vanquis card in full at the end of this month. I have a small amount on a store card, ?200 which I have been paying down and I plan to pay off this month also. I have 3 other defaults that I have been paying off, they are older than 6 years so not on credit file. I have around ?10k left to pay and have been paying ?300 a month to these too.

“if we split up I’ll need to try and take on the lease not sure how that will go” It won’t be possible. The lender will not agree to you taking on the debt in your name. I think you may have to plan on carrying on paying the lease even though it is in your ex’s name.

Having a large deposit doesn’t change the fact that you have a lot of uncleared defaults – the ones off your credit record are bad because the lender will see them And recent defaults show that this wasn’t some historic problem but your finances are still not on a good footing.

I was just wondering if anyone here with default has recently managed to get a mortgage with 10% deposit. I have been doing a lot of research online and I am a bit confused as to the chances of getting one with 10% when default is over 3yrs. I even read somewhere here that 10% deposit is now difficult with a squeaky clean credit file.

I have managed to clean up my mess but still have 4 defaults on my credit file, 3 of them are over 3 yrs and the fourth will be 3yrs on the 2nd of desperately looking to buy and already have the deposit

You have several problems – first that you have not yet settled all the defaulted accounts. And the accounts with missed payments. And there is a payday day loan with payment arrangements still showing.

I now have only one outstanding default which is not settled – Natwest CC, it’s the one that will be 3yrs in Jan, it has a balance of ?2400. Credit score on experian (I know this doesn’t mean much) has moved to FAIR.

It sounds as though you will only be able to get a “bad credit” mortgage

The age of the default only matters if it has been settled. You are not going to get a mortgage from a high street lender with unsettled defaults. Most like the defaults to have been settled a year or more ago. A credit score is irrelevant.

If you don’t mind a bad credit lender, talk to a broker now, I have no idea if they will want more than a 10% deposit. Otherwise you need to settle the outstanding default installment loans in California and wait a while. January is not at all likely.