We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
How long to wait
NorSharPei
Posts: 20 Forumite
Hi,
I have recently settled a number of defaults and a CCJ so no longer have any outstanding debts.
I have a Capital One and Luma Credit card and use both regularly, repaying in full each month.
I am close to completing on the sale of my house in which I have quite a lot of equity.
I'm wondering how long I should wait before applying for another mortgage to purchase a new property - it will be a relatively small mortgage (c40% LTV). Would it be worth looking into it fairly quickly after my sale completes as all of the defaults on my account are settled or do you think I would need to wait a lot longer so that they disappear from my file completely?
Thanks for you guidance
I have recently settled a number of defaults and a CCJ so no longer have any outstanding debts.
I have a Capital One and Luma Credit card and use both regularly, repaying in full each month.
I am close to completing on the sale of my house in which I have quite a lot of equity.
I'm wondering how long I should wait before applying for another mortgage to purchase a new property - it will be a relatively small mortgage (c40% LTV). Would it be worth looking into it fairly quickly after my sale completes as all of the defaults on my account are settled or do you think I would need to wait a lot longer so that they disappear from my file completely?
Thanks for you guidance
0
Comments
-
There's no point waiting unless they are due to fall off your credit file any day now. The important dates are the dates of registration, not the dates of satisfaction.
All three credit files to a broker for assessment.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Thanks Kingstreet - They won't fall off for a couple of years
Was hoping it was worth a try now that everything is showing as satisfied and my I have no skeleton lurking on my credit file! 0 -
They remain on your file for six years from the date of registration, satisfied or not.
How you are perceived by lenders is determined by the date of registration and the amount involved.
Lower loan to value will help.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.8K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.8K Work, Benefits & Business
- 603.4K Mortgages, Homes & Bills
- 178.2K Life & Family
- 260.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards