So Confused.....Please Help

Kds1984

Hi All,


So I am totally new to this and having trawled through numerous posts, I can not see a similar question being answered.


Myself and my partner are looking at getting a mortgage either November time this year or in March. Mainly these timings because I have a default that doesn't come off until March. I am still paying this off and will be until about September next year.


I went to an IFA this week who told me that if we applied in April they would still be able to see the default that came off in March? And that we had to have a year clear of the default coming off? How can this be correct?


I am totally confused, I though that once a default expired it disappeared from your report.....is this not actually the case?


Thanks in advance for your answers

thebritishbloke

Not true at all, the default will come off of your record 6 years from the date of default. After this point, nobody will be able to see this (unless you try to go back to the company you defaulted with, they will keep an internal record).

Kds1984

Something tells me that I won't be going back to this chap to secure my mortgage.


So if I am default free and clean on current accounts, bills and credit card there should be nothing to stop me getting a mortgage?


**Have a £15k deposit and looking at £80k mortgage (joint income of £56k) with 4 years of rental**