Defaults and missed payments - help?

Octaben

csgohan4 wrote: »

you've been given the advice, even though it's not something you wanted to hear

Not really no. Some people didn't actually read the post properly, others said October was a year away which isn't what I asked

The situation is now current and I wanted to learn from other people's experiences. If the only advice I'm going to get is 'see a broker', then there really isn't any point in this forum existing

AnotherJoe

Octaben wrote: »

Not really no. Some people didn't actually read the post properly, others said October was a year away which isn't what I asked

The situation is now current and I wanted to learn from other people's experiences. If the only advice I'm going to get is 'see a broker', then there really isn't any point in this forum existing

I have the impression of someone sticking their fingers in their ears and shouting la la la.

Other people's experiences won't be the same as yours in this very individual case. The fact someone with vaguely similar circumstances but different amounts did or didn't get a mortgage in a different financial environment (new rules on affordability etc) is of no relevance to you in the here and now.

You need very specific advice and assistance. A broker will be best placed to give that. The forum is advising you that.

The fact you don't like the answer, only makes the forum not useful to you, not to others who would take the advice and use it.

csgohan4

Octaben wrote: »

If the only advice I'm going to get is 'see a broker', then there really isn't any point in this forum existing

When I posted on here when I first joined regarding applying for a mortgage with my circumstances I too got the advice to see a broker. Got one and own my current house and never looked back.


If you don't like what you want to hear, perhaps being a keyboard warrior isn't for you

Octaben

I think I just expected people to be a little less patronising and maybe not so concerned with just increasing their post count

I have no interest in being a keyboard warrior, but when some people have clearly not even read the question being asked, their advice seems slightly irrelevant

It's got nothing to do with sticking my fingers in my ears. I have read other topics where some general advice has been given for certain situations. Yes I appreciate that everyone is different, but all help is useful

Thanks for your time

AnotherJoe

The general advice here is "go see a broker" because those experienced people with a background in ten industry have advised that in your specific circumstances general answers are not useful.

Suppose you had a dozen anecdotal reports here, half who got a mortgage and half who didn't? In what way would that help you specifically ? It doesn't tell you if you, with your exact financial circumstances, will, and in what it must be stressed again, is a very different financial climate with regard to approvals, will get one now.

Your query isn't a general one to which general answers can be given, and it's not one that fits absolute answers either. Sorry you don't find this acceptable and feel the need to criticise people telling you what they think is the case. it wouldn't help you either if they said "yeh I reckon you'll probably get a mortgage" because "probably" doesn't cut it either, neither does "might" or might not".

Unless house prices are really rising fast where you are, why don't you just decide to sit tight for a year, so get a years tenancy , and save in the meantime for a better LTV and be in a better position when you do apply with longer record of savings and expenditure.

David_White

There's not really enough specific information in your original post to know what your options are going to be.

Sadly you're right about the DMP as some lenders won't go near it however it doesn't close all doors.

If the defaults are within 3 years and there's been a DMP during that time your only likely option is a 15% or 20% deposit however of course it'll come down to the finer detail so without seeing a credit file etc I wouldn't be able to say for sure.

One consideration regarding whether or not you keep your flat or not is the increased stamp duty you'd now have to pay.