default nightmare!!!

asha27

Hiya

Just wondered how many others out there have the same trouble as me. Myself and my partner are currently wanting to get a mortgage and as my partner has 3 defaults on his credit file (which are 5 years old and all for relatively small amounts eg £97, £1000 and £200) we are having a nightmare getting a mortgage unless its at an extortionate interest rate!!
:mad:
I am aware that the defaults stay on a credit file for 6 years but its just soo frustrating and they have all been paid off years ago, is it just tough luck or what????

Help :mad:

AndrewSmith

Make an appointment for a local mortgage broker. Explain the whole situation to him and he should be able to offer advice on where to go based on his experience and knowledge of the lender's underwriting criteria.

Do not try to apply too many times on your own as each time you apply and are declined for a mortgage this will have a potentially adverse affect on your credit rating.

Hope this helps

Andy

AndrewSmith

EFG,

These forums are NOT to be used for personal gain, nor are they here for you to either contact posters privately or ask posters to do the same.

There are many Brokers and Advisors who have been posting on this site for a long time who will not take kindly to this kind of behaviour, and you are likely to have your posts removed and be banned from the site.

ALL the brokers on this site give their time freely to offer generic advice to posters in an enviroment where there is no pressure of a 'sale' and without personal gain either way. This allows the site to operate in accordance with the principles of it's founder Martin Lewis.

I have reported your post so expect it to be removed or blocked. I would suggest that any further posts of such a nature will result in you being banned from the forums.


TO THE ORIGINAL POSTER

Your case of a couple of small defaults does NOT constitute using Sub-Prime or specialist lenders. There are high street lenders who will look at such a case for you. Trust my judgement, I have been doing this for over 12 years now. As I originally said, contact a local broker who will sit with you and go over the various options available. Beware of those who instantly suggest sub-prime mortgages, market or products.

I know that the other DECENT brokers on here will fully support my views.

Andy

inmypocketnottheirs

I am not a broker, but I think I saw recently that The Chelsea building society were doing a sub prime mortgage at a decent rate. Worth doing a google maybe.

All the best

Doozergirl

I would urge you to please ignore the second poster.

I'm not a mortgage broker either but agree entirely with AndrewSmith's sentiments. I certainly frown upon people using these forums for their own personal profit. Consider the purpose of Martin's site and the fact that the vast majority of us are here to help each other find the best deals on everything; this specifically means searching the whole marketplace. Everybody's circumstances and budget are different which makes it impossible (and wrong) to recommend just one product.

There's nothing better than using an independent, whole of market mortgage broker. They can search every deal out there and find you the cheapest one to suit you. Use http://www.unbiased.co.uk/website/mortgage to find one near to you.