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Effects of Defaults on Mortgage?
stalkah
Posts: 227 Forumite
Hi All,
Wonder if anyone can give me some advice. I have 2 defaults courtesy of HSBC each around £400 back in January 2010. I paid them off immediately and since then have had a perfect history no missed payments, used a credit card and paid it off etc etc.
I'm looking to get a mortgage next year and so they will be at least 5 years old, what is the likeliness of these having a negative effect on the mortgage?
Also would this stop us from getting a government help to buy equity loan?
I'm I better off just waiting until 2016 for them to be completely removed from my credit report?
Wonder if anyone can give me some advice. I have 2 defaults courtesy of HSBC each around £400 back in January 2010. I paid them off immediately and since then have had a perfect history no missed payments, used a credit card and paid it off etc etc.
I'm looking to get a mortgage next year and so they will be at least 5 years old, what is the likeliness of these having a negative effect on the mortgage?
Also would this stop us from getting a government help to buy equity loan?
I'm I better off just waiting until 2016 for them to be completely removed from my credit report?
0
Comments
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If the market next year, is as it is today you should have some options from sensible lenders.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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
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