FTB - one default

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?

Replies

  • thewinkshowthewinkshow Forumite
    333 Posts
    you should be okay

    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
  • ftbkateftbkate Forumite
    5 Posts
    Thanks thats useful to know.

    I'm looking at a repossesion in my ideal area which is on the market for a steal, so was hoping to move quickly.
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