Any hope of mortgage? 2 historical defaults

Thrugelmir

Stitchingtime wrote: »

I have been supporting 2 houses for the last 2.5 years while trying to sell one of them.

Negative equity?

Stitchingtime

Thrugelmir wrote: »

Stitchingtime wrote: »

Negative equity?

Yes, negative equity, but I expected that and had a fund aside for it, so that was cleared when the property sold very recently. Does that make a difference to being able to get a mortgage? I assumed as long as the mortgage was paid off, it wouldn't make a difference.

The property had to be sold as was jointly owned, and I had to relocate for work which is why I couldn't stay in it until it sold.

Thrugelmir

Stitchingtime wrote: »

Thrugelmir wrote: »

Yes, negative equity, but I expected that and had a fund aside for it, so that was cleared when the property sold very recently. Does that make a difference to being able to get a mortgage? I assumed as long as the mortgage was paid off, it wouldn't make a difference.

The property had to be sold as was jointly owned, and I had to relocate for work which is why I couldn't stay in it until it sold.

I thought you may still have the property from reading your post. Which would have obviously impacted your application if you did.

Stitchingtime

That makes sense. Fortunately I managed to get rid of it last month, wouldn't have considered trying before that.

Stitchingtime

I just wanted to update that we now have our DIP and the full application is going in today.

Thank you all for encouraging me to try another broker

amnblog

better tell your friend that their recommendation was an idiot!

Stitchingtime

amnblog wrote: »

better tell your friend that their recommendation was an idiot!

Seeing them at the weekend and intend to!

amnblog

In a nice way!