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Mortgage guarantee with mobile phone default
carameline
Posts: 23 Forumite
Hi everyone.
Could anybody tell me how likely it would be to be accepted by a lender for the mortgage guarantee scheme with a mobile phone default. I have a clean report but my husband has a default on his from tmobile for £160, it is 3 years old.
Thanks.
Could anybody tell me how likely it would be to be accepted by a lender for the mortgage guarantee scheme with a mobile phone default. I have a clean report but my husband has a default on his from tmobile for £160, it is 3 years old.
Thanks.
0
Comments
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Is this default settled in full? If so, when?You might as well ask the Wizard of Oz to give you a big number as pay a Credit Referencing Agency for a so-called 'credit-score'0
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No it hasn't been settled. We can settle it though, Would this improve things?0
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95% on HTB - MG?
I suspect this will not pass credit score.
Credit problems are not accepted on NewBuy and I don't think the underwriting will be any less vigorous.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
What about 90%- would that help if we had a slightly bigger deposit? This default on his report is so annoying
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It's incredibly difficult to say.
It's unlikely, you'd have a good chance at 85%, but at 90% I have my doubts.
It may be worth trying for an agreement in principle, if the products are good enough when they are launched.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Ok Thankyou
Would it be better to go through a broker or straight to the lender for an Agreement in principle?0 -
Should make no difference.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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Hi again,
we went to Halifax for an agreement in principle, they did a credit search and said that we would qualify despite the 160 mobile phone default being on there :-) we're going to save a bit of extra cash first tho. Just wanted to update for anyone in a similar position!0 -
Have you changed address since the default was registered?I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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 -
Halifax AIP ain't worth the paperDon't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
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