Defaulter Credit account on Credit Report

trenton

did you make minimum repayments (or had ppi or similar which done this for you) if not even without the default a year of missed payments will make a mortgage difficult

There were certain 4 months minimum and 7 missed in the row (however I made smaller than minimum payments in that period).

mwarby

trenton wrote: »

I had no income due to struggle as I was at university. Every other bill was paid and on the dot for the last 12 years.
But hey if you are an underwriter and that is the logic they follow, then i am not going to argue but someone from the investment sector and statistical/analytical background would argue your approach.

Well i'm not an underwriter nor involved in finance industry, but I have seen many threads on the strictness of mortgage underwriting. Many mortgage providers won't approve a mortgage if you've had a payday loan in last x years even if paid in full on time(which would normally be a good sign a loan repaid on time).

The last 12 years being fine is all well and good, but debt problems and a default only a few months ago might suggest next few years maybe less rosy and a mortgage company is trying to predict for next 25-30.

I hope you get your mortgage when your ready for one(I myself will struggle to get one for a good few years). The only remedy for your problems are no more negative data and passage of time