Mortage payments missed by Gf

james3333

hi all,
my (new) girlfriend missed about 12 mortgage payment last year when she was with her ex.... she has contacted the bank and she owes 25k... she has said that she will paay this off at £200 per month, will she have a black mark against her name now, even if she is clearing the debt?

cheers

luckyfool

Yes. She missed 12 months mortgage payments! Of course she will have a black mark. I'm surprised the lender did not repossess her property.

beecher2

Yes she definitely will - her credit will be pretty much shot by missing payments for a year, especially if she's only paying back £200/month. It'll take forever to clear the debt at that rate.

james3333

so no hope of me and her ever getting a joint mortgage then?

beecher2

james3333 wrote: »

so no hope of me and her ever getting a joint mortgage then?

Can she sell up? She'd be waiting for 6 years for her credit file to improve if she did that - otherwise it'd take longer to sort out as she'll be paying for these arrears for a long time.

luckyfool

Well, I would forget it for 3-6 yrs anyway. Its not even as if it was a small amount/small mortgage, if the payments were about £2,000 a month. She could try checking her credit report and see if it shows up on both Experian, Callcredit, and Equifax. Some smaller lenders report to any or all of the agencies. If it doesn't show on the credit report with one or more agencies you might have a chance as long as its with a lender using the relevant reference agency, AND importantly, that does not ask the question about previous credit history as part of their application process.

james3333

the house belongs to the bank (repossesed?)
but they have agreed she can pay back the amount she owes in £200 installments (isnt this at least better than declaring bankruptcy?)......

james3333

i find it insane that people can be so irresponsible, she had a bad split with him but still, all she needed to do was go to the bank and sort her side of the payments, but instead she left the house, so did he and they both just didnt pay any installments!...jeez, now i have to suffer the problems of sorting it with her...WOMEN!:mad:

Experian_company_representative

Sounds like your girlfriend will have a mortgage default on her credit report, which will remain outstanding until it drops off her report in six years. I think your best bet is to keep your credit histories completely separate from each other until the default goes. Even after that you might find getting a joint mortgage (certainly a competitive one) a bit of a challenge because any new mortgage lender is likely to ask if either of you have ever had a property reposessed. If you do keep your credit histories separate then you can certainly apply for credit in you own name without your girlfriend's adverse credit history coming into play.

James

james3333

yeh, your right, thanks for the advise guys.
dissapointing but thanks.

maninthestreet

Time to find a new GF, perhaps?