Remortgage with a Default

Japseye

Hi All,

I have had a credit card account which was in default since 2014, however in January I paid this off in full. I am now looking to remortgage one of my properties into a buy-to-let deal (currently it is residential).

My credit rating is fine in every area aside from this blip in 2014. I called my current lender who today said I would not meet their criteria should I wish to remortgage because they do not accept applications with history of default unless been cleared for over 3 years.

This has led me to this forum to ask for advice from the community and if anyone has experience in a similar situation? Where can I go to get a mortgage? I have done the usual googling and research but its all very grey and a market full of shady bankers.

Does a default payment really stop me from getting credit for so long?

Please help

Japs

[Deleted User]

See a broker - they will place your application appropriately, should it be possible.

Thrugelmir

Japseye wrote: »

I have done the usual googling and research but its all very grey and a market full of shady bankers.

Not grey at all. Speak to a mortgage broker. They'll be able to place your business. Whether the rates are attractive is another matter. Waiting until the 3 years is up is an alternative option. A blip is a factual event on which bankers base decisions.