Name: First Home Success High Ltv Mortgage Options After Defaults
Rating: 4.94 (154 reviews)

Achieved a

deposit mortgage

Borrowing of

for clients

Defaults were

years old

Two first-time buyers eager to step onto the property ladder and stop renting.
The clients had saved a 5% deposit, requiring a high 95% Loan-to-Value (LTV) mortgage.
Aiming for a £270k loan to secure a suitable first home in a competitive market.

One applicant had several large, satisfied defaults dating back 4 to 5 years.
Most high street banks refuse 95% LTV applications if the credit file shows multiple historical defaults.
The combination of a small deposit and adverse credit history made traditional “big bank” lending out of reach.

Our broker identified a lender specifically comfortable with adverse credit and low-deposit scenarios.
Recommended a short-term fixed rate to get the clients into the property immediately.
Planned the exit strategy to remortgage to a high street lender once the defaults drop off the credit file.

Secured a 2-year fixed rate that allowed the purchase to proceed with only a 5% deposit.
The clients successfully bought their first home despite their previous credit setbacks.
Established a roadmap to lower interest rates in the near future as their credit profile improves.

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First home success: High LTV mortgage options after defaults