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Mortgage help
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BumbleNova
Posts: 3 Newbie
Hi Everyone
I am hoping to buy somewhere next year and have been trying to get my ducks in a row.
I am saving for a deposit at the moment and am aiming for 10%. I have checked my credit files and I have a couple of defaults that will be 5 years old next year. they are from when I was a student, flat broke, moving addresses so I didnt get the relevant correspondence until it was too late. had i known what I know now - i.e. a credit score/record is important, I would have done things differently, such is lige.
on the plus side, I now have a good professional job and will have a salary of around £105k when I make an application and my credit record since those defaults is spotless. I am only looking to spend around £350k so I will also definitely be within the afordability guidelines. I have one credit card, but no other debt. I recently paid off my natwest professional career development loan in full.
will the two defaults that are 5 years old be fatal? or are the plus points of my application going to be helpdul? any advice would be much appreciated.
I am hoping to buy somewhere next year and have been trying to get my ducks in a row.
I am saving for a deposit at the moment and am aiming for 10%. I have checked my credit files and I have a couple of defaults that will be 5 years old next year. they are from when I was a student, flat broke, moving addresses so I didnt get the relevant correspondence until it was too late. had i known what I know now - i.e. a credit score/record is important, I would have done things differently, such is lige.
on the plus side, I now have a good professional job and will have a salary of around £105k when I make an application and my credit record since those defaults is spotless. I am only looking to spend around £350k so I will also definitely be within the afordability guidelines. I have one credit card, but no other debt. I recently paid off my natwest professional career development loan in full.
will the two defaults that are 5 years old be fatal? or are the plus points of my application going to be helpdul? any advice would be much appreciated.
0
Comments
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The higher the deposit the less impact the defaults will make.
Maybe save up for another year."Dream World" by The B Sharps....describes a lot of the posts in the Loans and Mortgage sections !!!0
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