Will old arrears affect my mortgage application

simmo80

Hello all,

I've been thinking about moving home, probably applying at the end of the year, and have been checking my credit files as you do. I have just looked at my Noddle report and it is showing a few arrears in 2010 and 2011 for my current mortgage. There is also one month arrears in November 2012 as well as 'arrangement to pay' which is marked as green for Jan and Feb 2013. On top of that a satisfied default with Vodafone in early 2011. These are all valid unfortunately although I'm not sure if the arrangement to pay are 'bad'... shows as green anyway. Do you think it is possible to obtain a mortgage with these markers on my file? With just the one arrears in the past 2 years are there lenders that are okay with this and wouldn't look at arrears older than 2 years? Payment history has been fine since.

I will be applying with a partner who has no missed payments for anything if that makes any difference. So it is all on me!

Hope someone can help with this!

Thank you.

ACG

What is the loan to value?

The mortgage arrears and arrangement to pay will be an issue with some lenders.

simmo80

Thanks ACG for the reply.

About 65% LTV. Putting down about £150,000 deposit.

ACG

There will be lenders for this, but I would suggest you get all 3 credit reports and speak to a broker.

There will be lenders who may decline this.

simmo80

I thought this might be one for a broker but thought wouldn't hurt to get peoples opinions on here. Thank you ACG!