We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Default and getting a mortgage
TMoose
Posts: 267 Forumite
Hi All
I'm in the lucky position to be able to afford (in my opinion) to be a FTB...
Current situation :
Salary 65K
Deposit 40K(ish)
FTB, so looking at properties <250K (which would put me in the 85% LTV bracket).
However, I do have a fully satisfied (no short settlement) default for 12K from March 2005, with a settlement date showing on Equifax for 15/03/2005. This is not shown on either Experian or CallCredit.
I have no other debts, and a credit card paid off in full every month with a limit of 1K.
Can I start applying for a mortgage now? or do I need to wait until 15/03/2005. Should I start physically (rather than just virtually) looking at houses now, or am I still wasting mine (and the EA/Seller's) time?
Thanks for your help.
Moose
I'm in the lucky position to be able to afford (in my opinion) to be a FTB...
Current situation :
Salary 65K
Deposit 40K(ish)
FTB, so looking at properties <250K (which would put me in the 85% LTV bracket).
However, I do have a fully satisfied (no short settlement) default for 12K from March 2005, with a settlement date showing on Equifax for 15/03/2005. This is not shown on either Experian or CallCredit.
I have no other debts, and a credit card paid off in full every month with a limit of 1K.
Can I start applying for a mortgage now? or do I need to wait until 15/03/2005. Should I start physically (rather than just virtually) looking at houses now, or am I still wasting mine (and the EA/Seller's) time?
Thanks for your help.
Moose
0
Comments
-
A mortgage can be obtained "in principle" and last for 3-6 months. So in theory you could. But for the sake of 2 months and 10 days why risk getting credit searched and then offered something less than brilliant...you'd only have to re-do it when the default drops off.
A vendor would see you as a time-waster, if you start viewing whilst un-proceedable.
Wait for 16/03/2011.Act in haste, repent at leisure.
dunstonh wrote:Its a serious financial transaction and one of the biggest things you will ever buy. So, stop treating it like buying an ipod.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.9K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.5K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards