Am I an undesirable mortgage candidate?

opinions4u

_Andy_ wrote: »

:T:T:T:T:T:T

I think that's the first time I've ever seen you use a larger font!

Just wait until I really fly off the handle.

It gets really nasty then .

Large font, bolded capital letters.

_Andy_

Remember to use plenty of !!!s - the more incredulous, the better. Even a '?!!!!?' is almost de rigeur nowadays.

milliebear00001

_Andy_ wrote: »

How much was the default for? Was it definitely a default or just a missed payment?

Can I ask what the difference is between these? I thought a late payment (even one made in the same month, but simply after the assigned payment date) was a default?

bodgerx

milliebear00001 wrote: »

Can I ask what the difference is between these? I thought a late payment (even one made in the same month, but simply after the assigned payment date) was a default?

Not according to Equifax. I have a couple of late payments a few years ago and they do not show as defaults. Its a legal warning and a demand to settle within a specified period.

Thrugelmir

HomeOwner2b wrote: »

I have a default on my credit history from a couple of years ago, and approximately £2000 on an MBNA credit card at the moment (which I have never missed a payment on, and regularly make overpayments into).

A lender will look at your payment history, and take this into account in terms of affordability of the mortgage. Its not just the regular payments that matter, but the amount that you clear down off the debt on a regular basis. Its an indication to a lender as to how you manage your money.

milliebear00001

bodgerx wrote: »

Not according to Equifax. I have a couple of late payments a few years ago and they do not show as defaults. Its a legal warning and a demand to settle within a specified period.

Thank you - that's interesting. I have two late payments to Barclaycard registered on my Equifax/Experian account and am trying to work out how these will affect any mortgage application I make. How does Equifax register a 'default' then? On my account, my late payments are shown as an 'amber' alert on the month in question. The coding says this means the payment was made one-two months late - both mine were in fact paid as soon as I received the reminder letter. What would a default look like?

Rico6.9

Am I undesirable for a mortgage? Will my husbands excellent track record with the bank and mortgage help at all?[/QUOTE]

If your husband is staying with the same bank you shouldn't have a problem. If there is a problem you'll just have to let your husband pay the mortgage!

Rico6.9

What would a default look like?[/QUOTE]

An 8 or a D. Something to avoid if you can.