Mortgage Advice

Marley48

Hi,

I was wondering if someone could give me some help. We have been turned down for a mortgage about 5 months ago. I have 5 defaults against my name. My plan is to over the next 6 months get these defaults removed (as they are all under £100) and then apply again in another 6 months (so 12 months in total).

We have a 25% deposit, are only looking for around £50,000 and my partner now works, who didn't before when we applied through a mortgage advisor.

I was wondering what my chances will be now taking these factors into account. Any advice will be greatly appreciated!

Many Thanks for Looking

Laura

kingstreet

How do you plan to get them removed? If they were legitimately recorded on your file then they can be marked as satisfied, but will remain there for upto six years.

Marley48

Thanks for your reply, I've already mailed Halifax and had one removed by asking them very nicely as a good will gesture. I just need to wait and pray the others will follow suit.

kingstreet

Obtain your credit files from the three agencies on a regular basis to ensure what you're being told is actually being actioned.

GMS

When did the defaults occur and for how much?

Cannot see how you can get them removed by simply asking but good luck with it.

Marley48

There are 5 ranging from £20 - £100 between 2008 and 2010. All but one showing as satisfied. As I said though, Halifax have removed one for £64 but I'm signed up to Experian so I can check regularly.

Thanks

kingstreet

Marley48 wrote: »

There are 5 ranging from £20 - £100 between 2008 and 2010. All but one showing as satisfied. As I said though, Halifax have removed one for £64 but I'm signed up to Experian so I can check regularly.

Thanks

Don't assume as it's been removed from Experian that it will necesarily have been removed from Equifax and Call Credit. Like I said, check all three regularly.

Marley48

Thank you for your advice - I'll make sure I check these regularly as well. Would this better my chances at a mortgage if the defaults were taken off?

kingstreet

Marley48 wrote: »

Thank you for your advice - I'll make sure I check these regularly as well. Would this better my chances at a mortgage if the defaults were taken off?

Probably. Anything you can do to make your credit file look better has to be a positive thing.

Marley48

Thank you for your advice .. I'll just have to wait and see!

GMS

Marley48 wrote: »

There are 5 ranging from £20 - £100 between 2008 and 2010. All but one showing as satisfied. As I said though, Halifax have removed one for £64 but I'm signed up to Experian so I can check regularly.

Thanks

Speak to a Whole of Market broker. There may be options available to you