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Credit Defaults
Berkshirelad_2
Posts: 6 Forumite
Hi all
I have been checking my credit rating and have seen that I have 2 default account on there. Does anyone know how long it takes once these default accounts have been paid that morgage lenders will concider lending you money, as me and the wife are now looking to get our own. Her credit rating is really good just mine is very poor as these default accounts have just been cleared.
Any feed back would be appreciated.
Kind Regards
I have been checking my credit rating and have seen that I have 2 default account on there. Does anyone know how long it takes once these default accounts have been paid that morgage lenders will concider lending you money, as me and the wife are now looking to get our own. Her credit rating is really good just mine is very poor as these default accounts have just been cleared.
Any feed back would be appreciated.
Kind Regards
0
Comments
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When were the defaults and for how much?
How much are you looking to borrow? What is the property value?I am a Mortgage AdviserYou 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.0 -
My 1st default was for £20 but i think this is an error on there part as this account was brough up to date back in june but has been update in aug 2011 the 2nd was for £728. We are looking to borrow £250.000 with a £25.000 deposit0
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The property is valued at £279.995 - offered at £250.000 we have had it confirmed that this offer will be accepted0
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When was the £728 default?I am a Mortgage AdviserYou 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.0
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this was defaulted on the 27/10/2009 and was updated on the 31/07/20110
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You can't borrow 250k as that would be 100% of the purchase price0
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we would be borrowing £225.000 with the £25.000 deposit making it up to £250.0000
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Correct. Assuming you can even find a lender who'd be happy with the adverse0
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We have seen a morgage advised today who has advised us that we will be able to get £269.000 combined income but i'm wondering if these default account will determin if the lenders will have an issuse lending it, and if so how long will it take for them to consider lending to both of us0
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Is the adviser aware of the adverse?0
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