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Mortgages with defaults?? PLEASE HELP!!!

moneysaver2013_2
moneysaver2013_2 Posts: 9 Forumite
in House buying, renting & selling
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

Comments

  • anselld
    anselld Posts: 8,679 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Probably none.
    Are the defaults settled?
  • HappyMJ
    HappyMJ Posts: 21,115 Forumite
    10,000 Posts Combo Breaker
    Probably yes..the defaults are over a year old and are for low values. I'm assumming they've been settled whether by payment or negotiation.
    :footie:
    :p Regular savers earn 6% interest (HSBC, First Direct, M&S) :p Loans cost 2.9% per year (Nationwide) = FREE money. :p
  • moneysaver2013_2
    moneysaver2013_2 Posts: 9 Forumite
    HappyMJ wrote: »
    Probably yes..the defaults are over a year old and are for low values. I'm assumming they've been settled whether by payment or negotiation.



    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
  • Dan-Dan
    Dan-Dan Posts: 5,279 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    you need to enlist the help of a broker so you get applied to the right lender first time , if it`s even possible

    I suggest you repost this thread on the mortage sub forum which has more brokers posting on it
    Never, under any circumstances, take a sleeping pill and a laxative on the same night.
  • moneysaver2013_2
    moneysaver2013_2 Posts: 9 Forumite
    Any recommended lenders would be much appreciated!

    thank you in advance xx
  • Dan-Dan
    Dan-Dan Posts: 5,279 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    I am not a broker , would not have a clue as there so many variables !

    post it on the mortgage sub forum and see what advice you can get

    good luck :-)
    Never, under any circumstances, take a sleeping pill and a laxative on the same night.
  • Kynthia
    Kynthia Posts: 5,692 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    You need to find an experienced independent mortgage broker who can advise and help you. Maybe use the below link, select mortgage advisor from the drop down list, if you don't have any recommendations:
    http://www.unbiased.co.uk/find-an-adviser
    Don't listen to me, I'm no expert!
  • Annisele
    Annisele Posts: 4,835 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    People here won't be able to recommend a lender to you.

    The brokers who post here aren't allowed to recommend lenders - the site rules don't allow it (and their compliance teams would shoot them).

    Even if they were allowed to recommend, they couldn't without knowing a lot more about both you and the property you want to buy. And shouldn't really post everything they'd need to know on a public forum.

    So, I'm with the people who say you need a broker.
  • moneysaver2013_2
    moneysaver2013_2 Posts: 9 Forumite
    Hi,

    I went through a broker and they recommended Kensington Mortgages.

    Has anyone used them before?

    Thanks
This discussion has been closed.
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