Advice Needed

Uniqua30

Hi
I am in a first time position looking to secure a mortgage with a property price of around 95,000. I earn 30+k a year with few current commitments.

Unfortunately in the past I wasn't earning as much as I do now and made a few mistakes with repaying the debts I had. I have 3 defaults on my credit file, all three have been marked as clear but they won't be due to be cleared off my file until March, July and September this year. The Halifax refused my application in November last year (the 3 debts were repaid in September last year).

I don't have any CCJ's.

Does anyone know when I am likely to be able to access a mortgage? Will I need all 3 to fall off my credit report when the 6 years is up?

Does anyone know of any banks which would be likely to offer me a mortgage.

Many thanks

Uniqua30

_Andy_

How much deposit do you have saved up?

Uniqua30

I have about 15k saved

Uniqua30

Advice anyone????

herbiesjp

How much were the defaults for?

VIGILANT22

Currently you would struggle with recently settled defaults (5 months) ....some lenders would consider something that was more historic depending on the amount. In such cases borrowers would pay a higher interest rate as they are a higher risk..........

One of the purposes of a lender running a credit check is to assess how a person has conducted their credit commitments ….. default delinquency shows the terms and conditions of credit agreements have been breached.

Your case is less strong by the fact you have default(s)

Uniqua30

Hi

Thanks for the replies...

My total defaults add up to £2954.

Does anyone know of any lenders which would be prepared to lend to me?

Thanks

Uniqua30

Uniqua30

Hi

Thanks for the replies...

My total defaults add up to £2954.

Does anyone know of any lenders which would be prepared to lend to me?

Thanks

Uniqua30

Uniqua30

Does anyone know any bank which would be likely to accept me for a mortgage?

Conrad

There are a couple of small lenders that will 'consider' such. Find a decent broker (not a large online firm, a'jack of all trades IFA' or someone thats only been doing it 2 years etc).

The lenders will usualy require 3 months Bank statements.

Conrad

It's touch and go though in view of the size of those defaults. They will consider things such as what steps you took to repay the debts, and how quickly you acted.