Can I get a Mortgage??! Help

sammyjammy

Pammy do you actually mean a default or just a late payment recorded?

Pammy

sammyjammy wrote: »

Pammy do you actually mean a default or just a late payment recorded?

Its a default, there are two recorded.

I do have one late payment which wasnt my fault and Im going to get that corrected as it wasnt actually late.

suzy83

I tried to asking nicely to remove a default on my credit report but got told sorry but we can not remove as you did not comply with the terms and conditions of the account and therefore the default is correct.

I went through a really hard time in 2006, me and my ex split up and he did not contribute to any of the bills wen he left. As i was on my own i could not afford to pay all the bills but made sure the most important ones were paid.

I got a default on my next account due to not being able to pay the correct amount each month. I offered to pay a lower amount but they transferred my debt to a debt management agent who i paid a lower payment with until it was paid off. Ive now been debt free almost 4 years and still no one will touch me due to somthing that happend years ago and all my payments have never been missed since.

Me and my partener have just been turned down for a mortgage with Abbey. Borrowing 75% @ 3.99% fixed for 2 years.

emmalita

i have 2 late payments on my file, i have written to capital one and grovelled slightly and they have just sent me a letter to say they will be removing it within 28 days, i found a letter template on this site (i think) and copied it,it worked for me!:j

suzy83

emmalita wrote: »

i have 2 late payments on my file, i have written to capital one and grovelled slightly and they have just sent me a letter to say they will be removing it within 28 days, i found a letter template on this site (i think) and copied it,it worked for me!:j

Hi emmalita,


Can you offer any advice on what you actually said to capital one???

Mrs_Bumble

Pammy wrote: »

In my case I had a tumor at the time and paying my catalogue wasnt a priority. As it wasnt done by a direct debit it relied on me phoneing up.

In an ideal world I would have managed the whole thing but sadly life sometimes takes over. As I can prove that was the case I would like them to be removed.

Is it actually showing as a default (D) or missed payment? Even a catalogue company wouldn't usually go to the trouble of applying a default for just one missed payment. A default is normally applied after a string of missed payments or perhaps when an arrangement to repay a sum has not been kept to. Missed payment and a default are very different beasts.

As previously stated something on your credit file can only be removed if it has been applied in error.

In the current climate it is fair to say that all lenders are twitchy about defaults and CCJ's, and even missed payments but if it is a small amount and there was a justifiable reason at the time then there are a few that would still look at lending, but it is very important to clarify if this is actually a default.

Approach a broker with a copy of your credit file, let them have a look and see what is actually showing and they will give you a good idea as to what the chances are for you.

It will take you a while anyway to get together the necessary deposit in the current market, but do get someone else to have a look at the file, it might not be as bad as you think.

Iceman543

I would be really interested in seeing what you wrote as well emmalita as I have 1 late payment on my account with a marbles card which occurred because they sold the account to halifax and closed down my usual access to payments (online log in). Sure I could have sent them a cheque but I work up and down the country and never got orgainised in time, so I was 4 days late. They have so far been not too helpful on the phone about this so a letter seems the next step.

A late payment can totally shatter your score according to the broker.

Batchy

as a financial advisor has already said, if default is settled and good reason and not huge value ... there will be lenders especially with healthy deposit who will lend to you! Best to speak to financial advisor and let them negotiate with business development managers of banks. if your borrowing a small ratio of income to value it can help also.

suzy83

I have a 25% deposit and only borrowing 78k with a default on credit report for a low amount with a justified reason for the default, but still refused mortgage.

emmalita

suzy83 wrote: »

Hi emmalita,


Can you offer any advice on what you actually said to capital one???

hi i just said that i felt i had conducted my account well (balance cleared and account now closed) apart from an oversight on my part on 1 occasion for a matter of 2 days due to personal circumstances,and as a goodwill gesture could they please remove it? have just done this with littlewoods and within 2 wks it was gone