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mortgage with default?
orangespoon1
Posts: 2 Newbie
Hi
I am new to this, just wanted to know if it is likely to get a mortgage with husband excellent credit but mine is fair with 1 default from loan settled with IVA in 2009, but default date May 2006! We have had a mortgage for 13 years and now sold our house as we need something bigger for our 2 children. We have 25% deposit and want to buy £140,000 house (so mortgage for £105,000) We both work, been in our jobs over 5 years and no debt, but i'm worried we won't get a mortgage.
Also do I explain to our mortgage broker or hope for the best? The default would go off file next year.
Thanks in advance for any help/suggestions.
I am new to this, just wanted to know if it is likely to get a mortgage with husband excellent credit but mine is fair with 1 default from loan settled with IVA in 2009, but default date May 2006! We have had a mortgage for 13 years and now sold our house as we need something bigger for our 2 children. We have 25% deposit and want to buy £140,000 house (so mortgage for £105,000) We both work, been in our jobs over 5 years and no debt, but i'm worried we won't get a mortgage.
Also do I explain to our mortgage broker or hope for the best? The default would go off file next year.
Thanks in advance for any help/suggestions.
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Comments
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Tell your broker. Let them find the best deal for your circumstances. I don't see you having a problem getting a mortgage, but you might struggle with the top of the market "cherry-pickers."
You should still get a good deal.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Thanks, we'll just have to wait and see now.
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