We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Ftb mortgage with one default??
Jacqui2011
Posts: 1 Newbie
Can someone please offer any advise. My story...
We are ftb and 10% deposit on £135k house (15% at a push) both in jobs over 4 years, combined income of £40k, no credit card, loan commitments and one dependant.
Only issue being a default registered in jan 10, paid last month (reduced payment agreed), default amount£534 and paid £341 in total. Account is not showing as satisfied yet but i have a letter to confirm that it is satisfied and the default only shows on experian and not on equifax.
I dont know if there is any point in applying to a high street bank. Can anyone please advise? We have yet to submit any applications
We are ftb and 10% deposit on £135k house (15% at a push) both in jobs over 4 years, combined income of £40k, no credit card, loan commitments and one dependant.
Only issue being a default registered in jan 10, paid last month (reduced payment agreed), default amount£534 and paid £341 in total. Account is not showing as satisfied yet but i have a letter to confirm that it is satisfied and the default only shows on experian and not on equifax.
I dont know if there is any point in applying to a high street bank. Can anyone please advise? We have yet to submit any applications
0
Comments
-
With a 15% deposit, i would be 99.9% sure you could get a mortgage (Based on what you have said). With 10% it would come down to credit score.
The fact that the default is only on one of your credit reports could be a good thing though. Some high street lenders might look to accept you, others wouldnt though.
You either need to start ringing round to see what the lenders say or get a broker involved, the last thing you want to be doing is making applications without knowing what the lenders view would be.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 -
Get in contact with a broker as they will be able to advice you better, I had a default on my credit report but still manage to get a mortgage (default was for £183.00).__________________________________________
FTB
Property market value 160K
Property purchased for 93K0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.9K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.5K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards