First time buyer with 5 year old defaultany help please?

mw123

Hello all. I hope I have posted this in the right section. I am posting again just to see if anyone else has some advice or been Imin same situation.
Anyway I wanted to ask a question regarding getting a mortgage with a 5 year old satisfied default. I have been to see a reputable local broker recently. I have advised him of my default and have had a decision in principle accepted with a 20% deposit (fully aware Halifax only do a soft search at this stage). I have now found a house and had an offer accepted. I am booked in to see the broker on Wednesday to put in a proper applications.

In the meantime I am just worried that I might be declined and also if it is worth applying with Halfax as I know being turned down has a negative affect on your credit report. Any advice would really be appreciated.

Thanks,
Matt.

kingstreet

Stick with it.

A single search isn't going to do you a great deal of harm. It might reduce your daft Experian number by a gazillion but in terms of getting a mortgage from another lender it won't be much of an issue...

mw123

Thanks for that. Do you think there is a chance with Halifax? I have been told that there is given the default was 5 years ago and satisfied. Also the fact my history has been good since then. I have been told they can be fairly sympathetic. Although looking online it seems a differnt story from previous post. Saying that the posts I have read are from 2013 so things may have changed since then.

kingstreet

You have a decision in principle.

You might as well stick with it and see how the full application goes. There are other lenders who will do it, even if Halifax declines it.