Mortgage with defaulted on file?

paulallen_2

Hi,

I'm a first time buyer and looking to get a mortgage for our first house. My partner defaulted on a credit card a few years back, would that prevent us from getting a mortgage?

Also, would getting a guarantor mortgage make it more likely a mortgage application would be approved?

Or am i out of luck and need to wait till it's wiped clean after 6 years?

Thanks

_Andy_

How much was the default for, has it been satisfied, and how much deposit do you have saved up in relation to the property values your interested in?

paulallen_2

Hi Andy,

The default was in the region of £400, it was paid off as soon as the letter came through, and the deposit we are looking at is around 15% of the house price

paulallen_2

any ideas folks?

Thanks

unite79

some lenders will accept you based on the fact the default is below £500, Getting a guarentor would make no difference - 2 choices really.

Visit a Whole of market broker, lay your cards on the table and see what they can get you.

Troll all the various lenders, get endless credit searches done, thus reducing your credit score.

blondends

I was in the same situation - my wife had a default on her credit history (5 years ago) for a much larger amount. On some advice I had from this forum I approached HSBC and they have given us an Agreement in Principle!! We have also got an AIP from Accord.

HSBC confirmed to me on the phone that their credit search will not leave a negative mark on our credit history. So - you have nothing to loose - the only way to find out is to give it ago.

Cheers!