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Mortgage with one default

emmajayne1980
emmajayne1980 Posts: 23 Forumite
in Mortgages & endowments
Just sold my house which was a joint mortgage with my ex husband and have found a house which I want to buy. Problem is I have a default which is 5 years old (ends April 2014) but have a 15% deposit. What are my chances of getting a mortgage with these figures? The house I am wanting to buy is £125.000. Also will I be classed as a ftb?

Thanks

Comments

  • bigadaj
    bigadaj Posts: 11,531 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper
    Feedbcack is in most instances you won't be considered as a FTb by most lenders, not that makes much difference. What multiple of income are you looking to borrow?
  • ACG
    ACG Posts: 24,750 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    If thats the only issue, i would be confident you could get a mortgage. But the lenders i know of that dont mind defaults require you to go via a broker.

    If you get in touch with a broker, taking your credit report they should be able to get something for you.
    I am a Mortgage Adviser
    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.
  • GMS
    GMS Posts: 5,388 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    How much was the default for? Who was it? Is it satisfied?
    I am a Mortgage Adviser
    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.
  • emmajayne1980
    emmajayne1980 Posts: 23 Forumite
    Sorry for late response. Default is satisfied and it was for £1000.
  • emmajayne1980
    emmajayne1980 Posts: 23 Forumite
    It was with Barclays
This discussion has been closed.
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