100k deposit with 100 unpaid phone bill

cv65user

i have saved up 100k deposit ., so looking at 200k 4 bed detached house mark . found a 5 yr fix 3.49 % mortgage.

unfortunately when i was s tudent i signed up for these 24 month phone contracts and after a few months you get a free ps3 . netherless the company doing this scheme went bust and being a student i did not pay my contract it just got cut off . if i can remember i was over 18 months into the contact and owed about 100+ . but not more then 200.

its nearly 6 years now , its shows up in my credit report. the bank i tried to get mortgage with did a soft internal check and it failed . she asked me why at that time i had no idea until i did the credit report back at home. i graduated back in 2004 and moved addresses since so have not kept anything back then .

will this unpaid 100 phone bill cause me to not get this mortgage . the lady did reassure me that as long as it werent in the thouasands i owe the bank would turn a blind eye to it . am i better off explaining that i was stupid student back in them days.

liamdaley

Can't you phone the network and find out who holds the debt and just pay the bill?

cv65user

no because i cannot pass security . i dont even know the mobile number or the security questions .

ACG

Whos the lender?
Some lenders allow defaults but as to how much varies from lender to lender. Most allow around £100-150. Anything above that and you need a lender who is prepared to look outside of "computer says no".

You also need to check your credit report how much its actually for.

I wouldnt have thought this will stop you getting a mortgage, just may limit who you can get one with but other than a few lenders who may say no, i imagine you will still have a very good choice.

BristolBob

6 years and you saved £100K. Well done!

DVardysShadow

At 6 years it will fall off your credit record.

harvey115

Open all three of you credit reports and check which ones are effected by this issue.

If the issue appeared over 6 years ago, get in touch with the credit agency and ask them to remove it. As after 6 years these should not appear on your file at all.

The two most important ones are Experian and Equifax. I would say if you already know the defaults are visible on both. You should sign up for 1 month free trial and get this sorted. Once the trial is about to expire you can cancel your membership for free.

holly_hobby

It should expire following its 6th anniversary of registration - register for free 30 day trial with check my file, whom are a multi agency serach engine - http://www.checkmyfile.com/.

If still showing, contact experian, equifax, etc to have the default removed under Limitation Act regs.

£100 at 6 yrs ago with 100k deposit, shouldn't really cause too many issues to be hones, given the reason for the default - however as its now timebound (and statue barred) its best to get it removed with CRAs before proceeding.

Hope this helps

Holly

cv65user

its 136 , i was meant to get a free playstation . foolishly as a student i applied for it and never got it . i got experian reports shows debt 136 , im sure it was a 35 per month contract so 136 / 35 = i had 3 and a bit ,months remaining.

i applied for hsbc , life time tracker 2.49 + 0.5 = 2.99 rate . borrowing 50k over 12 years . i got 110k deposit on a 160k house and put offer in of 150k .

the advisor said that we should over look that 100 debt becos it was not like a 10,000 k credit card debt , but the manager turned me down . all becos of a disputed phone bill of 136 in year 2007 . i am fuming becos i have banked with hsbc over 20 years but all becos of a computer says no . makes me sometimes want to flog all my money on a lamborghini and drugs


i have 2 more years to wait before it falls off my credit report.

SG27

Wait the to years and buy for cash!

ACG

HSBC wouldnt touch you with a default, they are one of the strictest.