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Can I get a mortgage with these defaults?
Comments
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Just to add... I've just come into some money and settle all my balances! Yippee! Does this help things or should i still wait about 2 years?This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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Speak to your broker.
There are circumstances where a bigger deposit is a better option than repaying defaults immediately.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 -
Having the defaults paid off may add a couple of potential lenders to the mix.
Having a bigger deposit is more likely to add the types of lenders you need to the mix.
- I suppose i have not really added anything to kingstreet' post other than emphasize that speaking to a decent broker is most likely to improve your chances of getting a mortgage.I am a Mortgage AdviserYou 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.0 -
Ok, thank you very much for your replies. I am going to pay off my £2000 debt because i think I'd be daft not to! I will feel so liberated lol.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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