Four defaults totalling £6,800. Declined by three lenders. Mortgage offered within 4 weeks. Here's the full story.
Four defaults on a credit file, including one outstanding default, is a significant adverse credit profile. Most mainstream lenders decline automatically at this level of adverse credit, regardless of the overall financial picture.
The outstanding telecoms default was the specific trigger for the automated declines — even though it was for only £900, its unsatisfied status was flagging in every automated credit score.
The couple had £67,000 of equity — a 17.4% deposit on the new property — which was a genuine strength, but mainstream lenders were not giving this factor appropriate weight in their automated scoring.
Darryl's first recommendation was to satisfy the outstanding £900 telecoms default immediately. This small action — paying £900 — would meaningfully improve the application profile for specialist lenders who weighted the satisfied vs unsatisfied status heavily.
Once the default was satisfied, Darryl identified a specialist lender whose criteria allowed up to 5 defaults in the last 3 years, provided none were on mortgage accounts and the total default value was under £10,000. This case met both criteria.
The application was manually underwritten with full context — the defaults were spread across a period of financial difficulty 2-4 years earlier, both applicants had stable employment with growing incomes, and the 17.4% deposit demonstrated genuine financial recovery.
Darryl reviews every case personally and responds within 2 hours. Free assessment — no credit search, no obligation.
The Mortgage Geezer is a trading style of Access Financial Services Limited, authorised and regulated by the Financial Conduct Authority — FCA No. 301173. Registered in England No. 04427489. Your home may be repossessed if you do not keep up repayments on a mortgage.
Lender criteria, rates and deposit requirements quoted on this page are indicative and subject to change without notice. Individual circumstances vary. This page provides general information only and does not constitute regulated financial advice. Darryl Dhoffer is authorised and regulated by the Financial Conduct Authority — FCA No. 301173. Access Financial Services Ltd, registered in England No. 04427489. Your home may be repossessed if you do not keep up repayments on your mortgage.