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Trying to Improve my Chances of Getting a Mortgage
holtkop
Posts: 1 Newbie
In Nov 2009 with a sudden change in circumstances and crippling debts, I had my house repossessed... Moving forward to 2015 and things are much brighter and I am looking to get back onto the property ladder. I have just looked at my credit scores and Experian shows as very good...Callcredit and Equifax show as poor.
What would be the best thing to do to get a small mortgage, just to get back onto the property ladder...
I am currently 3 years self employed and earn around £140,000 per year, so I am now financially secure.. Ideally I would like to get a small mortgage in around March 2016 of around £100,000 whilst paying a 50% deposit. I would like to if possible pay the mortgage off within the first year or maybe two.
I have had no debt, defaults or overdrafts in the last 4 years... Have over 60k currently in bank account and have had a Capital one Credit Card for the last 12 months which I use and then pay off in full each month.
I have one CCJ which has not been satisfied which is due for removal in December.
I have one mobile phone account which is in default no settled from June 2011.
Would there be any point in settling the CCJ or should I just let it expire (This I would rather crawl over broken glass than pay)?
I am happy to clear the mobile phone payment, but the default will still remain on my file how damaging is this? I am guessing this will obviously look better to lenders if this was showing as satisfied.
Are there any other things I can do to improve my chances of getting a mortgage?
What would be the best thing to do to get a small mortgage, just to get back onto the property ladder...
I am currently 3 years self employed and earn around £140,000 per year, so I am now financially secure.. Ideally I would like to get a small mortgage in around March 2016 of around £100,000 whilst paying a 50% deposit. I would like to if possible pay the mortgage off within the first year or maybe two.
I have had no debt, defaults or overdrafts in the last 4 years... Have over 60k currently in bank account and have had a Capital one Credit Card for the last 12 months which I use and then pay off in full each month.
I have one CCJ which has not been satisfied which is due for removal in December.
I have one mobile phone account which is in default no settled from June 2011.
Would there be any point in settling the CCJ or should I just let it expire (This I would rather crawl over broken glass than pay)?
I am happy to clear the mobile phone payment, but the default will still remain on my file how damaging is this? I am guessing this will obviously look better to lenders if this was showing as satisfied.
Are there any other things I can do to improve my chances of getting a mortgage?
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