Possible default may affect mortgage application

Eden_green

Hello, I am looking for some advice as I am going to be applying for a joint mortgage with my partner and worried my previous bad debts will affect out mortgage application.

My salary is £35k and my partners £40 and we have a deposit of £90k based on equity and savings. We are looking to purchase a £270k property on a joint mortgage although my partner has an existing mortgage on his property. This will be my first mortgage.

I defaulted on 2 accounts in 2010, but settled the accounts in October 2011 and in August 2013.

Will they still appear on my credit score as I read that defaults stay on your credit file for six solid years from the date the default was documented? I also read that after the period, it will automatically be deleted from your credit report, whether it has been paid, satisfied or not.

As they were defaulted in 2010 does that mean they will no longer appear on my credit score?

Any advise is greatly appreciated as very worried about application.

dotdash79

Try in the mortgage forum, but with a 25% deposit it's not a hopeless cause, the recent default settlement might cause some issues.

These will stay on your credit file for 6 years from the default date.

Eden_green

Thank you for the advice. So even though the default date was in 2010 they will still be on my file in 2014?

Buzby

Yes - until 2016.