Would a default affect an application for a mortgage 28 February 2011 at 3:08PM edited 30 November -1 at 1:00AM in Debt-Free Wannabe 1 reply 690 views

ste_coxy

Hi I am wondering whether or not a default I picked up in 2008 would prevent me from getting a mortgage. I would be a first time buyer so I am wondering if this may also be a factor for being declined?

Tixy

It will affect an application and might mean you won't get the best rates on the mortgage. Quite a few high street banks will automatically decline someone with defaults. You might need to contact an independant mortgage advisor for some advice on who to try considering your default.