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cant get a mortgage
franko82
Posts: 14 Forumite
first time buyer and just turned down for a mortgage, looking into further it was due to me having 2 defaults on my credit file, both are due to come off in the next 4 months, apart from them my account has been perfect for almost 5 years. Is there anything i can do or will i have to wait for one or both defaults to come off?? please help!
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Comments
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I would suggest waiting.0
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suppose thats looking more obvious?!0
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Wait. Any more rejected mortgage applications will only lower your credit rating further.poppy100
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How long ago were the defaults?
How much for?
Are they settled?
Did the mortgage lender say that they were rejecting the application because of credit history?
How big is your deposit?I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Wait. Any more rejected mortgage applications will only lower your credit rating further.
We also had issues with applying for a mortgage due to me not being a permanent resident (so not because of defaults) but, after being declined for 3 mortgages, we were accepted on the fourth application.
I have heard people say that mortgage quotations affect credit rating less, so I wouldn't be too bothered about it.
You could wait out the four months, or you could investigate those defaults. It seems common for people to get defaults with mobile phone providers. If you're in a position to do so, it might be worth contacting them, paying the oustanding amount and asking to get the default removed off your file...0 -
Yes it was down to credit history, the defaults stay on for 6 years and they're are off 4/9/09 (£171) and the other is 28/11/09 (£234), both have been settled in full for over 3 years now, i have got in touch with the companies i defaulted with and had them send letters dating when the accounts were setlled but would'nt remove the defaults! depsoit wise at the minute i have almost £8000.0
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They won't remove the defaults. The credit files still need to show the defaults occurred.0
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yeah, its annoying that i've settled up years ago but still being punished.0
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Yes it was down to credit history, the defaults stay on for 6 years and they're are off 4/9/09 (£171) and the other is 28/11/09 (£234), both have been settled in full for over 3 years now, i have got in touch with the companies i defaulted with and had them send letters dating when the accounts were setlled but would'nt remove the defaults! depsoit wise at the minute i have almost £8000.
Which year were the defaults in? as I think you have made a typo
I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
thank you very much Athsine, where is she based??0
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