Mortgage with my own bank

mparter

I'm new to this mortgage game so go easy on me I'm trying to ascertain whether or not to enquire about a mortgage with my bank or go to a "specialist" lender.

Here's a summary of my situation:-

• I have 2/3 defaults on my credit record(s).
• I bank with the Royal Bank of Scotland.
• I have a £1300 overdraft with my bank (they semm to have no quams about upping this when asked).
• I've been with them for 7/8 years.
• I've got a £4000 loan with them which has 2 payments left to go.
• I have a Royalties Gold account with Switch/Cheque Guarantee Card (£100)

Does the defaults on my file pretty much wipe out the "good relationship" I have with my bank?

Thanks in advance for any advice.

payless

Asking them would do no real harm!

mparter

Thanks for the reply. Am I better to mention up front that I have a couple of defaults or just ride-it-out and see what happens?

payless

If you are asked the question , then answer it truthfully

They will normally do a credit check themselves

louise1234_2

I'm presuming your defaults are not with your bank then??

How is the conduct on your accounts. Do you ever go over o/d limit or miss loan pymts??

Have you paid off defaults??

I think they may consider you if a/c's are run perfectly & defaults were paid off years ago, but the only people who can tell you are the bank!!

Your case would have to be underwritten, so a mortage advisor would probably not even give you a definite answer.

mparter

louise1234 wrote:

I'm presuming your defaults are not with your bank then??

How is the conduct on your accounts. Do you ever go over o/d limit or miss loan pymts??

Went over my limit at the end of December the day before I got paid Was a D/D that I had forgot about and I went over by about £15. Getting charged £20 for the privilege

I have never missed a loan payment in the 4 years my loan has lasted.

Have you paid off defaults??

Not yet, working on that and contesting whether I actually owe the money on one of them.

I think they may consider you if a/c's are run perfectly & defaults were paid off years ago, but the only people who can tell you are the bank!!

Your case would have to be underwritten, so a mortage advisor would probably not even give you a definite answer.

Reply's to your questions above

louise1234_2

Sorry, I think 2 unsatisfied defaults wil not be acceptable to high street banks.

They may consider people with satisfied ones.

I'd suggest going straight to specialist lenders.

(This is based on the policy of one high street bank I used to work for, I presume they all work roughly the same, but feel free to correct me if anyone know that some are more leniant)

mparter

OK, thanks for the advice