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Defaults - is there any point in trying for a mortgage?
amazing1
Posts: 25 Forumite
Researching mortgages and feeling disheartened.
Have two defaults that will disappear at the end of this year as registered in 2009. Currently not fully settled as they are in dispute. They were brought about due to a 'one-off' life event- husband's prolonged unemployment after losing a business in the recession.
Although current credit scores and history have been perfect since we're feeling disheartened about ever getting a mortgage. Good incomes and 10-15% deposit on property we want.
So if a mortgage application asks if we have ever had a default and we say yes- even though it was over 6 years ago and not showing on our credit file are all lenders then going to ask how much, when settled etc and decline us anyway if they haven't been settled?
Typically how long has a default got to have been settled before lenders will look at it? We were advised some lenders don't care if it was satisfied or not so long as it had gone from the 6 years files on record. Who are those lenders?
The fact when it doesn't show on our file do we just look at those lenders who only ask if we ever had a CCJ, IVA or Bankruptcy? Since we could honestly say no to all of those questions.
This whole 6 year thing has me beat. Seems you are punished beyond that.
Have two defaults that will disappear at the end of this year as registered in 2009. Currently not fully settled as they are in dispute. They were brought about due to a 'one-off' life event- husband's prolonged unemployment after losing a business in the recession.
Although current credit scores and history have been perfect since we're feeling disheartened about ever getting a mortgage. Good incomes and 10-15% deposit on property we want.
So if a mortgage application asks if we have ever had a default and we say yes- even though it was over 6 years ago and not showing on our credit file are all lenders then going to ask how much, when settled etc and decline us anyway if they haven't been settled?
Typically how long has a default got to have been settled before lenders will look at it? We were advised some lenders don't care if it was satisfied or not so long as it had gone from the 6 years files on record. Who are those lenders?
The fact when it doesn't show on our file do we just look at those lenders who only ask if we ever had a CCJ, IVA or Bankruptcy? Since we could honestly say no to all of those questions.
This whole 6 year thing has me beat. Seems you are punished beyond that.
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