Getting a mortgage with Adverse Credit, Gifted Deposit & Maternity Pay

The Clients & Goal

• Joint Clients: A couple (27-30 yrs old) with one child and expecting another. Client 1 was on maternity leave.
• Goal: Buy their first, larger home for their expanding family.
• Purchase Price: £322,500 (3-bed semi-detached).
• Deposit: 10% (Gifted from family).

The Challenge

• Credit History: Severe adverse credit for both clients, including old CCJs, Defaults (2-5 yrs old, some unsatisfied), and recent missed utility/mobile payments.
• Income Complexity: Client 1 was on maternity leave (£42k p.a. returning full-time). Client 2 was a Self-Employed Limited Company Director (£30k p.a.).

The Solution

• Broker Expertise: Mark identified a Specialist Lender with a flexible policy willing to ignore the recent missed payments and accept the older, unsatisfied defaults and CCJs.
• Affordability: The lender used Client 1’s full returning salary for the affordability calculation.
• Mortgage Detail: Approved for a 90% Loan-to-Value (LTV) mortgage.

The Outcome

• Term: 35 years (to ensure comfortable monthly payments).
• Timeline: Approved Decision in Principle in 48 hours; Mortgage offer produced 9 days after the full application.
• Client Comment: “Thanks again for all your support here. We’re very pleased with this outcome!”