Mortgage/credit rating advice

powerranger27

Hi all, I'm looking for some advice about my credit related to applying for a mortgage.

I have looked at both my Experian and Equifax credit reports prior to applying for a mortgage. My Equifax report is good - everything is excellent except for electoral roll, which is fair as I have been on it at my current address less than 2 years. My Experian however is poor - it has none of my current credit accounts on it (my credit card and my bank account, both of which are excellently managed, are missing so it says I have £0 credit) and it has a 4 year old default on it for an energy bill I wasn't even aware existed until now (I left an old shared flat where a bill was outstanding without realising). This bill has never been paid, obviously, as I didn't realise it existed, but I have never been chased for it.

My question is, if I contact Experian and get my credit card and bank account (both of which I have had for a good few years now) put on, will this default mean it is unlikely that I will be accepted for a mortgage? I don't want to apply if it's highly likely I'm going to be turned down.

Thanks

GMS

How much was the default for? How much are you looking to borrow and what purchase price?

powerranger27

The default was for electricity and gas so is showing as two accounts, £270 for one and £130 for the other. I called the energy company to discuss paying it but they said it had been passed on to a debt collector who should have contacted me so I need to deal with them, but I don't know what company it is and they couldn't tell me. It was passed on 4 years ago.

I'm looking to borrow £74000 on a £80000 flat, on a help to buy mortgage.

Thanks for any help you can give

amnblog

You need to consult a broker on this one.