Mortgages with defaults?? PLEASE HELP!!!

moneysaver2013_2

Hi All,

I am just in the process of applying for a mortgage.

I have done a credit check with Experian and it highlights two defaults on my credit file.

Does anyone know which lenders are likely to lend on a 15% deposit?

Please see details of the defaults below.

SANTANDER CURRENT ACCOUNT
Default balance: £626
Default date: 03/04/2010

SANTANDER CARDS LTD
Default balance: £103
Default Date: 15/04/2011


Thank you in advance xx

ACG

There will be a couple but im not sure many of the high street lenders will.

To be honest, to save you a lot of time and potentially making applications to lenders who wouldnt accept you i would suggest speaking to a broker. However, if you prefer not to do that i would say you should get reading leanders lending criteria to ensure you fit their requirements before hand.

There will almost certainly be a lender who will accept you - subject to affordability fitting etc so i wouldnt worry in that sense.

Dave_Ham

Hi,

You are highly likely to need a broker here. I would suggest you obtain your Equifax and Call Credit files too, in case of any additional issues and hunt down a sensible broker.

You should still achieve sensible rates though, subject to the details.

Good luck

moneysaver2013_2

I paid the defaults as soon as i discovered them on my credit file however it will take around a month for them to update their files.

In addition my offer on a property has been accepted. I don't want to risk trying a lender that may refuse me as it will make my credit score worse.

The only thing letting me down is my defaults (which occurred when i was a poor uni student)

Please let me know, thanks in advance

moneysaver2013_2

Any recommended lenders would be much appreciated!

thank you in advance xx

GMS

Why do you have 2 threads going? https://forums.moneysavingexpert.com/discussion/4754715

Duplicating doesn't help.

You need a broker. That's the simple answer.

ACG

Advisors on here can not recommend lenders. Its regulated industry and without know a lot more info its just not worth us risking our license.

Senior_Paper_Monitor

The most obvious choice that springs to my mind is one that is strictly 'via broker' only.

No brokers are allowed to make specific recommendations on here - or would wish to as 1) that is how they earn a living 2) giving advice without full information process would leave them open to complaint.

Go to a broker

moneysaver2013_2

Hi,

I went through a broker and they recommended Kensington Mortgages.

Has anyone used them before?

Thanks

GMS

Lots of people have. What is your concern?

You do not have the pick of the market.

Do you trust your broker?

amnblog

Leave it to your broker to recommended the lender.