Poor Credit - Can I apply for a mortgage?

AimeeB88

Hello!!

I have recently got married and me and my husband are looking to get a mortgage.

We're hoping to get a 95% mortgage with Nationwide in October using our Save to Buy account.

When I was younger I had a Barclaycard and defaulted on payments amounting to £690, which got forwarded to a collections agency. I have since paid off the debt, appoxmiately 9 months ago, will this have an impact on applying for a mortgage?

It seems such a small amount of debt to be refused a mortgage application, especially as my husband has a clean credit history.

balmk

Unfortunately not all lenders look at the sum of money in question; the fact that you have not kept up with payments is enough to deter them.

You need to get a copy of your credit report from all 3 agencies (Equifax, Experian, and CallCredit/Noddle) to see how the card history has been logged; has a default been registered, what date, has it been shown as settled.

You would also probably be best off using a broker rather than trying to do it yourself as they will be able to identify amenable lenders.

HappyMJ

You might want to wait until the default is over 12 months old too. Some lenders don't mind old defaults they just don't like recent ones.

Experian_company_representative

Defaults stay on your credit report for six years and this is from the original default date, not the date of satisfaction.

James Jones