Worst case scenario

supermassive

Trying to get a mortgage on 5%, if the credit agencies screw up (again!) and still 'forget' to remove a default that was applied in error (They didn't follow their processes properly) ... if that happens, so I have one 'settled' default... who am I likely to be able to obtain a mortgage with? A higher deposit it not an option right now

Hopefully it isn't yet another clerical error that's screwing up my life for reasons beyond my control.

I'm speaking to a broker right now, but they want to charge me £1000 for any application made. That's not happening.

Also speaking to Halifax to see if there's anything they can do.

ACG

You want a mortgage with adverse credit (correctly labelled or not). Typically that does involve brokers charging higher fees as there is more work/risk involved.

Difficult to say whether that is high or not without knowing the full details but I dont think its astronomical. I know brokers who charge that on straight forward cases.

There are potentially lenders for it but the rates will be higher. I would really work on getting it removed and waiting for the report to update before applying if time is not of the essence. It could potentially take a month or 2 - possibly longer to all correct itself.

amnblog

A default on your file for sure, and one that might be removed, and a 5% deposit?


Don't waste your time with Halifax.


You will need a broker and you should expect to pay for the service.

supermassive

I've paid for the disputed default to go away, which should rectify itself this week as my report comes through, but it's likely it won't go away due to the utter incompetence of a company that can't even send me a letter. Bleh.

If it's settled does that change things?

amnblog

Settled does not remove it from being registered which is where the damage is.

supermassive

Guess I'm going to have to bombard T Mobile then. Sigh.

ACG

You will probably find paying a decent broker will give you a better chance of getting high street rates.

But if you are prepared to put the leg work in and get that removed and wait for it to update you might find you dont need a broker to get high street rates.

Thrugelmir

Believe that you've asked questions previously. The score you think you have and the way in which lenders appraise your application is totally different. Rectifying this issue alone may not be enough.