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Getting a mortgage after debt?
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mwr789
Posts: 20 Forumite
Hi All,
just looking for some advice. Me and my partner are looking at getting a mortgage in around 12-14 months time but i am worried about getting one.
I spoke to a guy in my bank as i have a default logged against my name and he said that i can pay in full to them so it gets marked as fully satisfied then i can ring up the credit agencies (Equifax, Experian and Credit Expert) and then they will remove the default. But from what i have been reading on the internet, this is not possible?
If any of you have any advice about what i can do to have the best chance of getting a mortage id be very grateful
Max
just looking for some advice. Me and my partner are looking at getting a mortgage in around 12-14 months time but i am worried about getting one.
I spoke to a guy in my bank as i have a default logged against my name and he said that i can pay in full to them so it gets marked as fully satisfied then i can ring up the credit agencies (Equifax, Experian and Credit Expert) and then they will remove the default. But from what i have been reading on the internet, this is not possible?
If any of you have any advice about what i can do to have the best chance of getting a mortage id be very grateful
Max
0
Comments
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Paying it off and having it marked satisfied is a good idea. As you have noted, bank employee speaks with forked-tongue as a default remains on file for six years, satisfied or not.
The bigger the time difference between it being satisfied and you applying for a mortgage the better...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 -
Does it make a difference how long it's been since you settled the default or is it more to do with the length of time between defaulting and applying for a mortgage?0
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