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Mortgage - help
gemsbelle
Posts: 3 Newbie
I have a few defaults on my credit history that have all been settled. My credit score was good, however I was advised to get a credit card to obtain some "good credit", I have been informed that the score should go up after a few months. Is it unlikely I will be able to get a mortgage? Is there somewhere I can go to discuss my credit score and the possbilities of getting a mortgage??
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Comments
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How many defaults, when were they registered and for how much?
What deposit do you have and what's the likely loan to value?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 -
A mortgage advisor.
However to get a basic idea if you can let us know the following for all the defaults:
How much:
When was it registered,
When was it settled:
How much your income is:
How much your hoping to borrow:
How much your deposit it:
We should be able to give you an idea as to how likely.
edit: aaaah! beaten to it!I am a Mortgage AdviserYou 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.0 -
kingstreet wrote: »How many defaults, when were they registered and for how much?
What deposit do you have and what's the likely loan to value?
I have 6 that are marked as "Default" and are satisfied and 4 marked as "satisfactory" and are settled. They are all from over 4 years ago.
I have a 10% deposit on a £110,000.00 house0 -
I dont think you will be able to do this with a 10% deposit.
If it were 1 then it might not be so bad but 4 is quite a few, its not like you can say it was a mistake and you knew nothing about it.I am a Mortgage AdviserYou 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.0 -
When did you settle the last default?0
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With a 20% deposit this would be fine (other things being equal around income, expenditure etc.)
At 15% deposit possibly, although at 10% deposit highly unlikely.
The key to any opportunity would be in the detail though, I suggest you get your Experian, Equifax and Call Credit files to a decent independent broker.
Furthermore forget the scores Experian/Equifax give you as they are not an indication that the lender uses. The lender is interested in the content.
When exactly was the latest default registered, the exact date and how much were the defaults for?I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0
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