FTB - one default

5 Posts
Thanks for the advice on the last question.
So, I have run experian to get my house in order before any applications start. I have a squeaky clean record nothing but green dots other than one default 5 and a half years ago for £35. I have satisfied it, I think it was just a final bill that didnt follow me after a house move.
Is this default likely to stop a mortgage application?
So, I have run experian to get my house in order before any applications start. I have a squeaky clean record nothing but green dots other than one default 5 and a half years ago for £35. I have satisfied it, I think it was just a final bill that didnt follow me after a house move.
Is this default likely to stop a mortgage application?
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Post office for example have the below criteria
For last 3 years:
no mortgage/rent/loan arrears
maximum 2 consecutive missed payments on credit/store cards
maximum 1 CCJ to £250, not in the last 12 months
communications/mail order arrears ignored unless scale/frequency is a cause for concern
Also, the default will fall off your report after 6 years, so maybe worth waiting 6 months then it wont show up
I'm looking at a repossesion in my ideal area which is on the market for a steal, so was hoping to move quickly.