IFA Confused.com

SkintnScared

Oops sorry thought I'd done it on the original post........here it is:

Hi all
It's been a while since I posted. I'm in a much better position now with everything paid off thanks to the other half and we are looking to buy shortly.

We will have approx £50k as a deposit and looking to buy at approximately 20-220000 house.

When I look at my credit report everything is either marked as 'settled' or 'satisfied' including 3 CCJS. This has been the case for over a year now and I've had no credit checks on my report for this time either.

Do you think I stand a chance of getting a mortgage now, joint with my husband who has a perfect credit score?

If so. Is it best to use a local broker or just search online?

Many thanks

SnS

kingstreet

"Including three CCJs?" suggests there's more...

Would you be kind enough to set out, for each account;-

Nature (CCJ, default etc)
Amount at default/judgment £
Registration date DD/MM/YYYY
If satisfied Y / N
Date of satisfaction? DD/MM/YYYY

Please itemise, on which version(s) of credit file each item is visible.

SkintnScared

Hi
Thank you, here is the information. I think I was maybe being naive thinking as they are all paid off I wouldn't have too much of a problem as we have a big deposit. It's scary when it's written down. Also there is one from September 2007 (default date).....should this not have gone now or is it the date it's settled/satisfied not the default date?

Nature: Default store card
Amount: £290
Date of registration: 27/5/2008
Settled: 28/9/2011

Nature: default phone account
Amount: £141
Date of registration: 03/02/2010
Settled: 6/7/2011

Nature: default credit card
Amount: £296
Date of registration: 20/03/2009
Settled: 12/06/2011

Nature: default credit card
Amount: £686
Date of registration: 20/06/2008
Settled: 20/06/2008

Nature: default current account
Amount: £319
Date of registration: 25/6/2008
Settled: 31/12/2011

Nature: default current account
Amount: £1038
Date of registration: 25/06/2008
Settled: 31/12/2011

Nature: default current account
Amount: £338
Date of registration: 11/12/2007
Settled: 24/6/2011

Nature: default catalogue
Amount: £368
Date of registration: 18/12/2008
Settled: 23/06/2011

Nature: default credit card
Amount: £2020
Date of registration: 18/9/2007
Settled: 26/9/2011

Nature: default current account
Amount: £1116
Date of registration: 11/12/2007
Settled: 9/6/2011

Nature: CCJ
Amount: £755
Date of registration: 18/9/2008
Settled: £28/4/2009

Nature: CCJ
Amount: £505
Date of registration: 17/06/2008
Settled: 13/9/2011

Nature: CCJ
Amount: £9821
Date of registration: 25/6/2008
Settled: 31/12/2011

ACG

Why so many defaults?
I would argue that this could potentially be placed at normal(ish) rates. Not market leading but i dont think you expected that. Because of the age of the defaults i would imagine under 5% should be achievable maybe even under 4%.

Might be worth speaking to a different broker - a Mortgage broker rather than an IFA.

SkintnScared

Thanks that's good to know, I'll shop around for another advisor.

Any more comments greatly appreciated?

GMS

All adverse settled and over 3 years since registration so lenders potentially available.

Do you have any credit which has been conducted satisfactorily?

Was there a reason for the adverse? All seem to be within a shortish period.

Definitely one for a broker this

SkintnScared

Thanks, I have my current mortgage and a couple of basic bank accounts which are all managed perfectly at the moment.

We (as it will be joint) don't owe anything on credit cards or loans and will have a £50k deposit.

They were all in a short space of time where my ex left me, I had some time of work sick and fell behind! I'm not proud of it but these things happen

I was surprised when the advisor my oh has used before said that as I thought it seemed a bit dramatic. I'll find another advisor.

Do you think I can request to have some of these removed from my record then? I thought it was 6 years from default?

Thanks

kingstreet

It depends what that £50k means as a percentage, not the actual amount.

If you are going for £250k purchase, with £50k deposit, 80% may be on the borderline.

At 75%, £200k purchase, with £50k deposit, I think there will be more takers at 75%.

I tend to be over-cautious with cases like this and would rather under-promise and over-deliver.

You need a good quality, experienced, whole-market mortgage broker.

SkintnScared

We'd be looking at the 200k with 50k deposit so 75%.

Thanks for all your help. It's good to know it's not totally out of the questions, just hope we don't have to pay over the odds that's all!

ACG

You cant have them removed unless they are incorrect. But there is the odd lender who will ignore them as they are over 2-3 years old.