HSBC mortgage with default

shardi2209

Sorry it's yet another mortgage with default question.
I'm looking at getting a mortgage with my partner (he has checked all 3 CRA's and it's all perfect). He earns 31k and I earn 29k. We have a combined deposit of 95k (my half is a 40k gift from my mother-have gift letter and I won't be paying it back). We have had an offer accepted on 250k house. All good so far.
However I have some late payments from 4 years ago. I also have 3 defaults. They are all with OUSBA- the open university (I don't know if who you default with makes any difference).
£564 3/5/11
£141 2/2/12
£760 3/10/12
All paid back and listed as settled within weeks of the default date. I defaulted because my partner at the time lost his job - not an excuse but the ousba accounts were set up the year before and they wouldn't let me cancel the accounts so had to default but paid back as soon as I could.
My defaults only appear on my experian report. Noddle have no defaults or late payments and equifax shows the late payments but no defaults. Hsbc gave us an aip for a lot more than we need to borrow. HSBC have been my bank for over 20 years and I have previously had loans and credit cards with them and they were all paid off with no late payments.
So is there any chance hsbc will give me a mortgage?

MortgageMamma

HSBC don't lend via brokers only direct or through a "chosen few" big firms. However, you've been a long term customer, managed loans, credit cards and you already have your AIP - what are you worrying for? the defaults are paid back. Like I said I don't deal with HSBC but as long as you are honest about them on your application form hopefully it will all go through fine. And if it doesn't - their loss - there are plenty of other lenders who would LOVE your business and loyalty!

MM

shardi2209

Thank you!
I'm just so nervous that I will get turned down and mess things up for me and my partner. I got the credit cards and loans before the defaults and I haven't even tried to get any credit for the last 3 years, which will hopefully help but it means that I have no idea how the defaults are affecting me.
I know defaults come off after 6 years but do banks judge them less harshly the older they are?

MortgageMamma

Yes in general - if the defaults are satisfied, for reasonably low amounts and from a long time ago some lenders don't consider them at all.

shardi2209

Thank you for your replies. Still very nervous about my mortgage meeting on Tuesday but feeling a bit more positive.

David_White

Whilst there will no doubt be lenders available to you I don't necessarily agree with the above comments of some lenders "not considering them all at".

Even an adverse lender will take defaults into consideration what differs from lender to lender is how much of an emphasis they put on the defaults.

I can't comment on HSBC as they're not available to me as a broker, however from the types of cases I handle daily I would say a mortgage should be doable with the right lender.