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  • FIRST POST
    • Dribiddi
    • By Dribiddi 13th Jun 17, 1:49 AM
    • 49Posts
    • 19Thanks
    Dribiddi
    AP markers
    • #1
    • 13th Jun 17, 1:49 AM
    AP markers 13th Jun 17 at 1:49 AM
    I have x3 AP (arrangement to pay) markers on my credit history.
    Chances of being approved for a mortgage any time soon?
    It's something I read conflicting advice on. I know that the markers are akin to default and have heard it said no chance until they drop off after 6 years (3-4 years to go for that to happen).
    On the other hand I've read that their influence on credit worthiness will fade faster than 6 years, and banks are looking most closely at money management over previous 1-2 years. In addition the markers are not recorded with Experian so I've read brokers can use this to get deals from lenders who rely on Experian reported info.....
    Any thoughts?
Page 1
    • Arleen
    • By Arleen 13th Jun 17, 2:19 AM
    • 924 Posts
    • 684 Thanks
    Arleen
    • #2
    • 13th Jun 17, 2:19 AM
    • #2
    • 13th Jun 17, 2:19 AM
    Get a broker.
    But with fresh AP markers, and three of them, chances are rather slim for a good mortgage. Are you keeping up with repaying them now? And almost all mortgage providers check all 3 CRAs, I imagine that is even more true for bad credit mortgages.
    • Westminster
    • By Westminster 13th Jun 17, 1:57 PM
    • 758 Posts
    • 462 Thanks
    Westminster
    • #3
    • 13th Jun 17, 1:57 PM
    • #3
    • 13th Jun 17, 1:57 PM
    Google something like 'bad credit mortgages' or 'adverse credit mortgages'

    Ring round a couple of companies to see who you get a good feel for (If they don't ask for current copies of your 3 CRA files then move on to the next company)
    Hi. Martin has asked me to tell you I'm a Board Guide on the following boards: Mortgages & Endowments, Mortgage-Free Wannabe, House Buying, Renting & Selling, Small Biz & Charities' MoneySaving and Charities.

    I'm a volunteer to help the boards run smoothly, and I can move and merge posts on there. Board guides are not moderators and don't read every post. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
    • Candyapple
    • By Candyapple 13th Jun 17, 2:05 PM
    • 2,242 Posts
    • 1,700 Thanks
    Candyapple
    • #4
    • 13th Jun 17, 2:05 PM
    • #4
    • 13th Jun 17, 2:05 PM
    As above, you need a broker who can search the market for the best provider for you. If people can mortgages with a default, you should be able to with an AP. Note: I said should, I'm not a mortgage adviser and you also have 3 AP markers.

    Don't forget that a lot of the adverse lenders will require you to have a higher than normal deposit (something like 20% minimum) so bear that in mind.
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
    • Dribiddi
    • By Dribiddi 13th Jun 17, 11:19 PM
    • 49 Posts
    • 19 Thanks
    Dribiddi
    • #5
    • 13th Jun 17, 11:19 PM
    • #5
    • 13th Jun 17, 11:19 PM
    Get a broker.
    But with fresh AP markers, and three of them, chances are rather slim for a good mortgage. Are you keeping up with repaying them now? And almost all mortgage providers check all 3 CRAs, I imagine that is even more true for bad credit mortgages.
    Originally posted by Arleen

    It was staggered overdraft reductions that I could not pay down all at once. The last of the arrangements ended over 2 years ago and I stuck to the agreements



    Google something like 'bad credit mortgages' or 'adverse credit mortgages'

    Ring round a couple of companies to see who you get a good feel for (If they don't ask for current copies of your 3 CRA files then move on to the next company)
    Originally posted by Westminster

    Before I get jumped on I know credit scores aren't the be all and end all but my credit scores are good. I've been approved for a £9k credit card in the past year and could take my pick of other financial products according to matchers like MSE credit club so the markers don't seem to be dragging me down too much. I also got £10k worth of car finance last year (easier to get I know) which is now paid off....
    Last edited by Dribiddi; 13-06-2017 at 11:24 PM.
    • Westminster
    • By Westminster 14th Jun 17, 10:25 AM
    • 758 Posts
    • 462 Thanks
    Westminster
    • #6
    • 14th Jun 17, 10:25 AM
    • #6
    • 14th Jun 17, 10:25 AM
    Well some positives there - best of luck!
    Hi. Martin has asked me to tell you I'm a Board Guide on the following boards: Mortgages & Endowments, Mortgage-Free Wannabe, House Buying, Renting & Selling, Small Biz & Charities' MoneySaving and Charities.

    I'm a volunteer to help the boards run smoothly, and I can move and merge posts on there. Board guides are not moderators and don't read every post. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
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