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Default Or Late Payment For Mortgage
ate90
Posts: 7 Forumite
Hello,
I was hoping for some help/advice as I prepare to make a mortgage application next year.
I currently have a default on my credit report from March 2012 for £487, this has not been settled yet, the lender has offered to remove the default and replace with a late payment mark 3 upon settling the balance. The default is obviously 4 years old and due to fall of in march 18, if I make the payment the late payment mark 3 will be placed on the account from say today and run for a further 6 years.
My question is if i was to apply for a mortgage in 12 months time what option would give me the better chance?
Any help/advice is much appreciated. Please feel free to ask any further questions necessary.
Adam
I was hoping for some help/advice as I prepare to make a mortgage application next year.
I currently have a default on my credit report from March 2012 for £487, this has not been settled yet, the lender has offered to remove the default and replace with a late payment mark 3 upon settling the balance. The default is obviously 4 years old and due to fall of in march 18, if I make the payment the late payment mark 3 will be placed on the account from say today and run for a further 6 years.
My question is if i was to apply for a mortgage in 12 months time what option would give me the better chance?
Any help/advice is much appreciated. Please feel free to ask any further questions necessary.
Adam
0
Comments
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Hello,
Did you get a mortgage in the end?0 -
Yes I am keen to know this too?0
-
I am guessing the OP hasn't applied yet as 12 months would take him/her to Feb 17.
They also haven't been on the forum (logged in I presume) since the original post.0 -
Be good if anyone does know if an older default is better than newer late markers.0
This discussion has been closed.
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