Getting a mortgage with defaults!!

TroJon

Well your income if stable, seems to be ok for the amount you guys are borrowing, that may have been the deciding factor as well, not too sure of course.

At the end of the day if you had two defaults, you do realise the banks if they do not lend you money, is not just to protect themselves, but to protect you as well, as it is evidence to show that you may not be as financially stable/savvy as you believe, or at least used to believe!

williams38

Further to the first users thread. I have 2 defaults which combined total £8,500 both from just over 5 years ago. My current mortgage is with Rooftop on a 2 year fixed rate of of 5.79% which ends in October. I have been looking to remortgage, my house is worth around £70,000 and i have a balance of around £27,000. I approached a mortgage broker who has sourced a 2 year fixed rate with Abbey at 4.18% and i have been approved even with the above defaults.

Its worth looking around

franko82

MoneyHospital wrote: »

That's very impressive - did you get a good rate?

NATWEST have a first time buyers offer, 5.99 fixed for 5 years!!

franko82

Sunny2good wrote: »

oh thats great news.. well done to you..

would you mind sharing with others as to which process you took to apply for this mortgage. Was it visitiing bank persoanlly, over the phone, using a broker/financial adviser, through post etc etc

and what rate did you end up getting at the end ?


Sunny

i spoke to a number of advisors, they too said wait until the defaults come off.

Ive been with NATWEST for 10 years now so i just thought if anyone is going to lend me money it must be them, I arranged an appointment at my local branch and had an acceptance there and then!!

Even bought the house I'd been eyeing up for the last 3 months or so the very next day, should be in it within the next 6 weeks.