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New House - Please help???

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

Comments

  • betmunch
    betmunch Posts: 3,126 Forumite
    Are you saying you have a default for £800?

    or

    Are you saying theres a default incorrectly registered to you for £800?
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Malcmac
    Malcmac Posts: 15 Forumite
    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
    GMS Posts: 5,388 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    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
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • betmunch
    betmunch Posts: 3,126 Forumite
    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.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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