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Getting a mortgage after (paid off) defaults?
fatsparra
Posts: 2 Newbie
Hi everyone, I hope you can help as I have approached several brokers and no-one has given me a clear answer.
My wife and I would like to buy a 2nd home in Northern Ireland. We already own one house in England, but want to keep that on it's current interest-only buy-to-let mortgage as it has lost pretty much all the equity.
Despite having a fairly decent wage (55k gross), I had to go in for an operation 2 years ago on an existing ailment, only to find none of my loan / card / account insurances would cover me. I ended up going into default on 6 different accounts, with up to 8 missed payments on some of them. I finally cleared all of the debt in one hit when my compensation came through and currently have nothing owing to anyone, with my only credit source being a mobile phone bill and my Amex charge card. My credit score is 843 according to Experian, if that means anything to anyone! We have never missed a mortgage payment though.
We've seen a few houses we like at around 180k, and we can get togther a 15% deposit. My wife isn't working, so the mortgage would be in my name - is there ANY chance at all of getting us somewhere to live, or will my credit history haunt us for the rest of our lives?!
Thanks for your time!
My wife and I would like to buy a 2nd home in Northern Ireland. We already own one house in England, but want to keep that on it's current interest-only buy-to-let mortgage as it has lost pretty much all the equity.
Despite having a fairly decent wage (55k gross), I had to go in for an operation 2 years ago on an existing ailment, only to find none of my loan / card / account insurances would cover me. I ended up going into default on 6 different accounts, with up to 8 missed payments on some of them. I finally cleared all of the debt in one hit when my compensation came through and currently have nothing owing to anyone, with my only credit source being a mobile phone bill and my Amex charge card. My credit score is 843 according to Experian, if that means anything to anyone! We have never missed a mortgage payment though.
We've seen a few houses we like at around 180k, and we can get togther a 15% deposit. My wife isn't working, so the mortgage would be in my name - is there ANY chance at all of getting us somewhere to live, or will my credit history haunt us for the rest of our lives?!
Thanks for your time!
0
Comments
-
How long ago did you clear the defaults!
How much were they for, ie over £250,£500 etc..0 -
All defaults were satisfied 14 months ago, Some were for as little as 250, but the worst was a 24k loan - 8 missed payments, then paid off in full as soon as my compensation arrived. I was in a total debt of about 41k not inc. mortgage, but thankfully thats all gone now!0
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