Will i get a mortgage with a default

TammyBright

I have one settled default, dated May 08. Barclays have only just updated my credit report i paid it off November 08. Otherwise my credit report is good. Same address more than 3yrs, electro roll, credit card which i always pay on time. But i always get turned down for credit because of the default.
I work for the NHS earning £28,500 annual. (promotion in April £30,500)
My civil partner earns £21,500 and works for the council. Her credit report is good, no defaults etc.
We have a deposit of around 15k.
Property price 150k - so a 10% mortgage.
What is the likelihood of us getting agreed for a 10% mortgage with my default?
Who should we apply with?
Can someone recommend a good broker in Brighton/Sussex?
Any advice would be greatly appreciated.

beecher2

Your default will be on your credit file until May 2014. Keep saving as 90% mortgages are only for those with perfect credit files.

GMS

How much was the default for?

Can you raise any more for a deposit and look at cheaper properties?

Possibly looking at 80% Loan to Value mortgages with the default depending on what it was.

Any more of a deposit you could raise would be a massive help.

Broker wise cannot recommend but you need somebody who is experienced in difficult cases more so than somebody who is local. Phone and email is often the easiest way so location not vital.

GabyA

hi, you have a legal right to have incorrect entries on your credit file removed, see citizens advice site, but there are also agencies who help to get your rating improved. search google.

GMS

Who said it was incorrect?

As for google entries claiming to improve credit rating .................................. look a flying pig

herbiesjp

The important thing is when the default was registered and how much for.

Another thing that can impact, is who the default was with, and the reason for it.

Can you shed some light on this?

TammyBright

Hi, Thank you all for taking the time to reply.
The default was for £188 on a dormant overdrawn account with Barclays Bank Plc. I thought i had closed the account in 2003, it was overdrawn by £97 (apparently) and the interest it incurred until 2008. I moved in 2003 when i closed those accounts, so i didn’t receive any letters that they (apparently) sent. In 2008 i was contacted by a collection agency and i paid the amount in November, found out recently that they had a variation on my address and therefore the default wasn't showing on my credit report until recently when i contacted Experian as to why i had been refused credit (HP for a VW)
I have been through Barclay’s complaints procedure, as they didn’t update my credit report since 2008 so it continued to show outstanding default. It has been updated to show settled default, but they refused to remove default. I have contacted the Finical Ombudsman to attempt to get the default removed.
Thanks again!

herbiesjp

As it is under £250 you may have a chance with a few lenders.

I'd suggest getting in contact with a good whole of market adviser, who will be able to guide you in the right direction.

If you go direct you could go to the wrong lenders and harm your credit score by having wasted credit searches done by the wrong lenders.