have i ruined chances of a mortgage in future?

lilly153

my plan is to save a deposit for the next two years then hopefully get a first time mortgage

i was in alot of debt a few years ago i have managed to clear most of it but currently have 2 defaults still on my credit file they are for £129 and £86, the defaults were only registered in 2010 so will still be present when i hoped to get a mortgage in a few years time

is it still possible for me to get a mortgage with these on my file if so how much deposit should i be aiming for

i have a credit card phone line and a catalouge on my credit file as well these are all in the green never missed a payment i will be getting rid of the catalouge asap but im going to keep the phone and credit card as a source to build my credit file back up so it looks more healthier again

Thrugelmir

Time heals. Consider saving via one of lenders savings accounts such as Nationwide's Save To Buy. Barclays and Halifax offer similar schemes. This will add support to your reformed character.

lilly153

hi thanks for the reply i will have a look in to that as im just currently saving into my savings account

Let_Us_See

The defaults certainly won't help and as they are so small I would recommend you clear them immediately. If cleared now, and you have a clear two years without any more credit "incidents" then hopefully a good broker will be able to assist in achieving a mortgage.

lilly153

haven read loads more posts on this board over the last few days im starting to think a broker would be a more suited option due to the defaults so is their any point saving with a save to buy scheme and trying them first or will having a credit search and possible a mortgage application rejected by them then affect a broker trying to get get me a mortgage