Notice of Correction

tain

Quick summary:

I was self employed 6 years ago. Didn't go so well, got about 3 loans and 3 credit cards, and defaulted a ton of times. No CCJs or anything, but defaults coming out of my ears.

Finished settling everything between 3 and 2 years ago and have had perfect credit since, but as you can imagine - the defaults are stopping any mortgage application I want to make (first time buyer, have about 10% of the deposit saved).



The question is - would a notice of correction on my credit file saying 'was running my own business/self employed during this period - can provide proof. Now fully employed' make a blind bit of difference to any mortgage application?

I'll never need any other form of credit, so slowing down all future credit applications is of little consequence.


NB: I know there are other ways of building up my credit - already doing them as necessary. I'm simply querying the NoC worthiness.

tain

I know it doesn't make a blind bit of difference, but for anyone who cares: my credit score on Experian is now fair/good.

Senior_Paper_Monitor

None whatsoever - but can cause lower level applications using automated assessment to reject (so avoid).

You are not going to get 90% - may be 'in play' at 85%

tain

Forgot to mention - went to speak with Nationwide at the start of this year, and they said any defaults within the last two years would very likely mean a rejection. Hence I'm looking to improve my file in any way I can.

tain

Senior_Paper_Monitor wrote: »

None whatsoever - but can cause lower level applications using automated assessment to reject (so avoid).

You are not going to get 90% - may be 'in play' at 85%

85% including the government help to buy scheme?

We actually have 85%, but as you can imagine - want a bigger house in a nicer area, etc. and more to refurb when we're in.

kingstreet

Which Help To Buy scheme?

You buying a newbuild?

tain

kingstreet wrote: »

Which Help To Buy scheme?

You buying a newbuild?

No the one that is available to everyone.

Although if we had to, we could buy a new build.

kingstreet

In which case, you would not benefit from it at 85% and it does not provide mortgages to those with a history of adverse credit anyway.

Check out scheme differences;-

http://yournews-legalandgeneral.com/pv_obj_cache/pv_obj_id_BB320F8298FC1120B8826B44DE0AD12E294C0800/filename/Help%20to%20Buy%20Definition%20Budget%202013.pdf

Senior_Paper_Monitor

I said 'in play' (specialist lending) not 'choice of market'

tain

No one seems to be answering the question really.

I'm not looking for mortgage advice. I'm looking for advice on notice of corrections.

The hint is in the title folks.

FTB_Doll

Can I suggest you post in the credit file forum then?