Mortgage sucess stories

Steameh

Morning all,

I'm about to take the plunge and apply for a mortgage through Halifax with a 5% deposit.

I have two missed payments in a row from back in 2008 which are due to come off my file in June 2016, unfortunately I cannot wait that long to apply.

I have a little personal debt of £1900 but a personal credit limit of £7800, so I'm not near the limit.

I have been accepted in principle with Halifax for the amount I need and I've just been told I'm due a 10% pay rise next month which is great news.

I am totally bricking it about getting accepted for this mortgage, I have everything crossed at the moment.

Jennifer_Davey

Good Luck Steameh!! Let us know how it goes!

Just goes to prove that while many act like a few credit blips are the end of the road lending wise for 6 years it isn't so! Love hearing these success stories!!

Jennifer_Davey

Our broker is increible!

Despite three other brokers telling us no way in hell unless we saved 15%+ he's only gone and secured us a mortgage with a high street lender at 10% and a very affordable monthly figure!

Viewing our first property this evening!

Candyapple

Steameh wrote: »

Morning all,

I'm about to take the plunge and apply for a mortgage through Halifax with a 5% deposit.

I have two missed payments in a row from back in 2008 which are due to come off my file in June 2016, unfortunately I cannot wait that long to apply.

I have a little personal debt of £1900 but a personal credit limit of £7800, so I'm not near the limit.

I have been accepted in principle with Halifax for the amount I need and I've just been told I'm due a 10% pay rise next month which is great news.

I am totally bricking it about getting accepted for this mortgage, I have everything crossed at the moment.

Credit reference agencies only hold data going back 6 years so those late payments would have dropped off in 2014.

Steameh

Candyapple wrote: »

Credit reference agencies only hold data going back 6 years so those late payments would have dropped off in 2014.

I read it's 6 years after the account is closed, not 6 years after the marks were made.

Candyapple

Steameh wrote: »

I read it's 6 years after the account is closed, not 6 years after the marks were made.

If say you had 2 late payments in 2008 and then closed the actual account in 2015 - the late payments would drop off in 2014 and the eventual years would drop off one by one until it reached 2021.

Here's an example of what I mean below. In 2012 it was showing all the years from 2006-2012 and as you can see, it now shows the years 2010-2012 because it will only show data from 6 years ago (only shows 2 years now as 2012 is when I closed the account).

Steameh

Candyapple wrote: »

If say you had 2 late payments in 2008 and then closed the actual account in 2015 - the late payments would drop off in 2014 and the eventual years would drop off one by one until it reached 2021.

Here's an example of what I mean below. In 2012 it was showing all the years from 2006-2012 and as you can see, it now shows the years 2010-2012 because it will only show data from 6 years ago (only shows 2 years now as 2012 is when I closed the account).

Well mine are definitely still showing. This is my equifax report as of today.

Candyapple

Looks like Equifax/ClearScore report differently!

Is it the same for Experian?

Steameh

Candyapple wrote: »

Looks like Equifax/ClearScore report differently!

Is it the same for Experian?

I don't have access to my experian report unfortunately. I used the free 30 day trial a few years ago.

Steameh

Scrap that, just managed to sign up again for a free trial.

The missed payments are showing on Experian also. Both credit agencies say it's 6 years after the account closure date.

My experian credit score is 966 our 999 and my equifax is 466 out of 600.