Confused -

EvaCustard

Hi guys -

I have an old default - settled on my credit report - it's from 30/10/09. Everything else on my CR has nice green ticks.

OH has no defaults & everything up to date.

We want to buy a house, have 10% deposit - house is £100k

I looked on the Barclays website today and they offer 90% mortgages and we'd get the loyalty thingy where the fees are halved as we both bank with them.

My question is this, how likely are we to be accepted given the default on my record?

Thanks in advance.

kingstreet

At 90%, I'd say your chances aren't great with anyone.

EvaCustard

Oh.

Ok - thanks anyway.

Would 85% be any better? Or do you think we are just onto a loser?

kingstreet

The bigger the deposit the better.

It might be a good idea to get your credit files from all three CRAs and put them in front of a good whole market or independent broker. He can make you up a roadmap of what you'll be able to do, when and what deposit you'll need.

Equifax

https://www.econsumer.equifax.co.uk/...erletter.ehtml

Experian

https://secure.wiseconsumer.uk.exper...x.html?data=00

CallCredit

https://www.callcredit.co.uk/stat-re...pl=regPurchase

The £2 statutory paper files will be fine. Avoid online schemes you have to pay for which give you your inside-leg measurement and call it a "credit score" as this is different to the lender's, the one which actually matters to you...

Dave_Ham

Essentially if Barclays spot the default then it will be declined, same with any other highstreet lender.

If they do not - obviously you will be ok.

Be mindful that some check further down the line on the 3-6 years credit files, so you may pass initially and then get declined...

You may find you have a pre-agreed mortgage limit with Barclays as you bank with them. PAML - a broker can tell you and I think they may also be able to check in branch

EvaCustard

Thank you both so much - that's really, really helpful.