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Settled Default and Mortgage Application

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TastyTeeth
TastyTeeth Posts: 205 Forumite
in Mortgages & endowments
Posted this over in the debt-free threads, but got directed here instead - is anyone able to offer me any advice?

I have a settled default from January 2007 against a previous address (moved 3 times since then).

I have no other defaults on my credit file and all my current credit accounts are running well, with no missed payments in the last 3-4 years or balances over £500. I have been in my current job for over 4 years.

I'm looking into getting a mortgage and, before making an application, wondered if the settled default from early 2007 might cause me a problem in getting a mortgage approval?

Thanks.

Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Possibly yes. Consult a broker as they'll be better placed to point you a lender that will accept it.
  • ACG
    ACG Posts: 24,559 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    It will be an issue for some lenders, but not all.

    To some degree it will depend on how much it was for. I do agree though, go and see an advisor.
    I am a Mortgage Adviser
    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.
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