Default is a year old! Yaaaay!

Jennifer_Davey

Hi All,

Today marks the 1st Birthday of my most recent default. Reason to celebrate as only five left to go! (Gotta love how the haste of mobile phone companies can leave you financially scarred for 6 years! Hey-Ho!)

So my question is, mortgage wise, have i got any options at all,

We earn £51k a year between us, have one dependent. Know we can afford a maxiumum of £230k. Other halfs credit is perfect (:A ) Mine not so much

The default that is one year old, with EE was for just under £200. Settled.

I have one other, £38, Three, settled May 2015 (Ex's default...:mad:; )

We currently have £10k in savings, looking to make that £25k by May when default one is three years old.

Do we have any options at all? Or will lenders turn us away instantly?

David_White

As always it'll come down to the finer detail, but there should be lenders available to you yes.

If both defaults are related to Mobile phone contracts the rate wouldn't be top of the market but wouldn't necessarily be awful either.

ACG

There are lenders who ignore mobile phoone defaults - so no need to wait until they become a year old...Although it will help with the scoring.

As David says, there should be options but it is all in the detail. I would not rule out high street rates, but just be prepared that it could be a little higher than normal.

Jennifer_Davey

Thanks guys! Really appreciate it! Fingers crossed come May!

chelseablue

My partner has a default on his file and we were accepted by Halifax just before Christmas.


Although his default was from 2011, settled in 2013

Jennifer_Davey

We've got an appointment to speak to a broker next week, we'll see what she says!

Thats given me some hope however!

Thanks x

Jennifer_Davey

Quick update! Default from 2013 has been removed from my credit score after much conversation with Three! Does this help me at all?!