Will she get a mortgage?

JoeAlonso

Any advice would be greatly appreciated.

My girlfriend has/had a spotless credit report with about 5 or 6 settled/ongoing credit accounts.

On a sofa purchase from DFS (financed by GE Money who in turn changed to Santander Cards), she defaulted on the account without knowing. Santander cards c*cked up everything by not inserting the proper addresses and card details which made her default. We are in the process of appealing this and getting her credit report changed as advice from people have said it was not her fault.

The question I'm asking is that, she is looking to apply for a mortgage in just her name within the next couple of months and will this default be a problem while it is still there? Bearing in mind the rest of her report is spotless and this default should be removed by the end of the month.

VIGILANT22

Wait for the outcome from Santander, then if it's in her favour, make sure Santander inform the credit agencies to have this removed from the file....check this has been done by obtaining another copy of the credit report....They are all very quick at having default notices added but don't work with the same urgency if it is agreed to be removed.....

Tuscan

you need to post up more details, income? deposit amount? cost of property she wants?

JoeAlonso

She has already been told she can get a mortgage of £180,000 with a 10% deposit which she has. She was told that early December but my main question is that since this default has gone on the report will this hinder her?

VIGILANT22

Being told how much you can borrow and actually having a decision in principle is 2 different matters...If she had a DIP, it has a short life span (valid for 3 months?).....and most lenders also credit score again before going to offer...(final part of confirming mortgage)...so it is likely this would impact the decision as the default is so recent...credit scoring is done to measure credit conduct, therefore in general a default is viewed as inability to pay....which would have an impact on any decision......

_Andy_

How much is the default for?

VIGILANT22

_Andy_ wrote: »

How much is the default for?

Andy.....Don't you think the fact the account has defaulted recently is a more significant factor than amount?

_Andy_

Agreed although if it was for, say £50, would have less impact than £5k.
I guess in answer to the OPs question though, yes the default will have an effect

JoeAlonso

The default is for £1074. She has paid the arrears as is currently up to date. Will this remove the default?

VIGILANT22

JoeAlonso wrote: »

The default is for £1074. She has paid the arrears as is currently up to date. Will this remove the default?

No...you have already said she's in discussion to have this removed as it was the fault of Santander........ if so they're the ones who can issue instructions to have this removed

VIGILANT22

_Andy_ wrote: »

Agreed although if it was for, say £50, would have less impact than £5k.
I guess in answer to the OPs question though, yes the default will have an effect

I know of someone declined last week by BM for 50.00 default on Egg CC....otherwise impeccable....