How do i know if i can get a Morgage?

SamUK

I have just got my CreditExpert Credit Report.

All my Credit Cards are good, only missed one payment from 13 odd cards.

All except 2 card are settled (on £0)..

I have other loans which are also showing up good..

The only issue i have is a Default from my old Bank in 2008, It says this will stay on the file for 6 Years! The Balance is £0 but not showin gup on the report..so i will be poping into the bank tommrow to get this changed.


I really need to move out with the family though not sure if i will be able to get a morgage....and at a good rate?


Any advise appriciated?

Dave101t

go to your bank and ask them, they are financial experts (!)

TFD_2

If you have a recent default, then I think you can count out any mainstream mortgage product.

TheEffect

No, you have near no chance of getting a mortgage with a default.

TFD_2

SamUK wrote: »

The Balance is £0 but not showin gup on the report..so i will be poping into the bank tommrow to get this changed.

The default will get marked as 'satisfied' if the balance is paid off, however as you say, it will take 6 years for this to drop off your credit file.

In a few years time, a lender may make less of it than when it's fresh, but a default isn't much different to have a CCJ on your credit file - it sends mainstream lenders running.

TFD_2

SamUK wrote: »

All my Credit Cards are good, only missed one payment from 13 odd cards.

All except 2 card are settled (on £0)..

And just to clarify your choice of terminology - settled means closed as far as credit files go. Are these other 11 cards closed or just empty?