default satisfied, will it affect me trying to get a mortgage

darren121

hi, could any1 help me i got a orange contract fone out over 4 years ago i could not get a signal in work or even my home i was constantly contacting them to cancel my contract with no luck i did not want to pay for a contract that did not work in my own home. after a couple months i was still nowhere with orange they would not help me because i was in a contract i decided to cancel my direct debit they put a default on my account for £214 i paid it 2 months later to get them away so my credit account now says default satisfied but it doesnt come off my credit account to jan 2015. orange ruined my life with this they did not help me at all in this situation. will this affect me for going for a mortgage because ive seen a property and the sale has been agreed and im going to the bank on wednesday to try get a mortgage. i dont owe orange anything and the rest of my credit report is excellent. would any1 have any info for me at all. much appreciated.

Tixy

This could well still affect your mortgage application.

For some banks, particuarly if you want to borrow a high LTV, any default still on your credit file will likely result in an instant decline.
The larger the % deposit you have the more likely you will be able to find a lender who will accept you with a default.

You might be better talking to a mortgage broker for a mortgage and getting them to advise of which lenders might be most likely to lend, or which least likely to lend to you.