First-time buyer mortgage approved for newly qualified solicitors despite credit challenges

These clients approached us with limited confidence in their ability to secure a mortgage due to several financial hurdles:

• An active payday loan.
• Five consecutive missed credit card payments within the last 18 months.
• A missed payday loan payment within the last 24 months.
• Credit card debt, personal loans, and childcare expenses creating financial strain.
• Deposit fully gifted by family, with no personal savings contribution.
• Initial mortgage application declined despite initial positive feedback from the lender.

Understanding the importance of their situation, we reassured the clients and devised a tailored approach:

• We advised the clients to repay two small outstanding debts, improving their affordability profile for a new lender.
• Leveraging their professional status and strong internal profile, we engaged directly with a high street lender, bypassing strict automated credit checks.
• The mortgage was successfully approved, avoiding the need for adverse lenders, higher interest rates, or larger deposit requirements.

Despite their initial doubts, the clients secured their mortgage with a mainstream lender, moving into their first family home with confidence. This case exemplifies how a strategic, personalised approach can turn even the most challenging cases into success stories.