New House - Please help???

Malcmac

Hi All, I currently have an offer on my flat and have had an offer accepted on a house. The house will cost £197k and I have £30k to put down with my wife.

I have had no issues with my mortgage in the 6 years I have had my flat and have never even been late with a bill. We even pay extra towards our mortgage because we can afford to. The problem is, I have found that my credit report still has an active default from a bank account that is for £800. I didn't know about it at all, and would pay it off tomorrow if it was going to make a difference.

with an immaculate bank account, and a £51k joint salary, along with 30k to put down, is there any bank that would touch me? I have only been married 2 months and have gone from being in a great position to letting my new wife down completely. Can anyone advise? I have records of accounts and share holdings that should prove to any bank that we are not going to be a problem. Desparate for help! Malc

betmunch

Are you saying you have a default for £800?

or

Are you saying theres a default incorrectly registered to you for £800?

Malcmac

It's correctly registered, I had some issues previously and this one is still there. I had paid off my credit cards when I started earning more, but received no communication on this one. I was £8.27 overdrawn and had charges onto my account for c£800.

GMS

Malcmac wrote: »

Hi All, I currently have an offer on my flat and have had an offer accepted on a house. The house will cost £197k and I have £30k to put down with my wife.

I have had no issues with my mortgage in the 6 years I have had my flat and have never even been late with a bill. We even pay extra towards our mortgage because we can afford to. The problem is, I have found that my credit report still has an active default from a bank account that is for £800. I didn't know about it at all, and would pay it off tomorrow if it was going to make a difference.

with an immaculate bank account, and a £51k joint salary, along with 30k to put down, is there any bank that would touch me? I have only been married 2 months and have gone from being in a great position to letting my new wife down completely. Can anyone advise? I have records of accounts and share holdings that should prove to any bank that we are not going to be a problem. Desparate for help! Malc

Have you tried speaking to your current lender? They may assist due to your existing relationship.
If not then speak to a 'Whole of Market' broker

betmunch

Oh dear, this could be a big problem then.
Your credit file is showing that you have a history of ignoring a debt and that is obviously not what a lender wants to see.
You could argue that the bank should have tried harder to find you or something but I doubt that will help. Any new lender will simply go off the credit file.

You may have some luck with lenders that use human underwriters though. You should get a copy of your credit file and take it to a whole of market broker for further advice.