First Time Mortgage

herbiesjp

Whichever you think is best for you

Daisy_Duck

Grippa wrote: »

Thanks.

I went through the online process with Call Credit, and it wants £12 from me? Surely I'm just better off going with Experian?

Hello

I agree that you should check Experian (and/or Equifax) as opposed to Call Credit. Experian and Equifax are the two main CRAs and will almost certainly be the ones any potential mortgage lender will search if you apply. You need to know what info they have on you. The info may or may not be the same as that on Call Credit.

Take a look at Martin's guide here...

http://www.moneysavingexpert.com/loans/credit-rating-credit-score

which will also tell you how to get hold of your info for free.

Good luck with the mortgage!

herbiesjp

http://www.equifax.co.uk/Products/credit/credit-report.html

You can try that if you want

Grippa

Okay, I have my credit report...

There are quite a few late payments, but just one default. However, it was for just £215 and is marked as 'Satisfied'. Will this make a difference? Is it worth trying to get it removed?

There is also another account which is marked as overdue - however this has recently been cleared. Is it just a case of waiting until this is reflected on my report.

I also got my Credit Rating - which is just 465 - very poor.

What should I do now? Go ahead and try and apply for a mortgage, or attempt to improve my credit score first?

Any advice would be greatly appreciated.

Regards.

jamief

I'd try and improve your credit score.

I don't think you can get defaults removed, as removing them would be indicating that they didn't happen. A lot of lenders won't even consider you with late payments.

Grippa

Oh dear. That's not what I wanted to hear.

Daisy_Duck

Grippa wrote: »

Okay, I have my credit report...

There are quite a few late payments, but just one default. However, it was for just £215 and is marked as 'Satisfied'. Will this make a difference? Is it worth trying to get it removed?

There is also another account which is marked as overdue - however this has recently been cleared. Is it just a case of waiting until this is reflected on my report.

Hello

The default will certainly make a difference. Short of a CCJ that's pretty much the last thing you want showing on any account. If it's been paid then presumably it was a legitimate entry and so you will not be able to remove it. It will drop off 6 years from the date of settlement- how long ago was that?

As for the account that you've recently paid, this will show as being so on your report soon enough. Lenders normally report to the CRAs monthly so give it a few weeks and it should show as being cleared.

Not sure what to suggest with regard to a mortgage, I would imagine at the moment you will struggle to find a lender. How about speaking to an independent mortgage advisor? They may have more info?

Grippa

Thanks Daisy,

The default was only a year ago, so five more years is a long time to wait!

I will be speaking to an advisor soon. I believe there are lenders out there who will be able to help, however, I know that I would have to pay over the odds for the privelege.

Thanks again for all your advice.

rosspwilliams

Hi Grippa,

I have similar issues on my credit report. Me and my o/h saw a Mortgage Advisor in August (not specifically to look just yet, just for a few ideas), and he mentioned that because of my history we may need to look at having a guarantor on the mortgage. Thankfully my oh's parents are more than willing to do this, so this is an avenue we can look at when we get to the applying stage. Maybe it is something you could also look at?