Will I get a Mortgage?

larkic07

Im looking for some information please! We are first time buyers, looking to borrow approx £130,000! The problem I have is this: I have 1 default on my
credit history from 4 years ago and the balance is satisfied. I recently applied for an experian report to check everything before we go ahead with the application. However, ive now discovered I have another default from 4 years ago with an outstanding balance. I didnt know about this until now, the balance is £231.09. I have taken advice from trading standards who have advised me I should fight this and have it removed, but it could take
months.
Should I settle the balance and take the hit, and if I do would my application
be successful, or should I hold off and fight it then apply for a mortgage, I dont want our credit to suffer further by taking another hit! My partner has a perfect credit history, she cores 908 with experian whilst im 674!

Any information you can give would be greatly appreciated

asandwhen

larkic07 wrote: »

Im looking for some information please! We are first time buyers, looking to borrow approx £130,000! The problem I have is this: I have 1 default on my
credit history from 4 years ago and the balance is satisfied. I recently applied for an experian report to check everything before we go ahead with the application. However, ive now discovered I have another default from 4 years ago with an outstanding balance. I didnt know about this until now, the balance is £231.09. I have taken advice from trading standards who have advised me I should fight this and have it removed, but it could take
months.
Should I settle the balance and take the hit, and if I do would my application
be successful, or should I hold off and fight it then apply for a mortgage, I dont want our credit to suffer further by taking another hit! My partner has a perfect credit history, she cores 908 with experian whilst im 674!

Any information you can give would be greatly appreciated

You can still get a mortgage - you may even be able to get a decent high street rate as long as the first default isn't over a few thousand - My wife and I recently got approved for a high street lender she has 1 default from about 4 yrs ago for £2500 settled. I would go and see an idependant mortgage advisor and tell them everything they will point you in the right direction.