Can i get a mortgage even though i've had debts?

KatyD_2

i am soon to have cleared approx £8k of debts which have been paid through debt collection agencies. i am unsure if i will be able to get a mortgage even when i have cleared them all. Can anybody tell me if it will also make a difference if they were paid in full or paid as a settlement. If any one has managed to get a mortgage after being in debt i'd appreciate your feedback and who you got it with...i will also have a deposit to put down of about 10% but i'm unsure where to start looking ...... thanks

Ivan_Konstantinov

have you got ccj's from your last lenders?

herbiesjp

What you need to do first is get an up to date copy of your credit file from Equifax or Experian.

Then go and see a whole of market adviser - they will be able to see the state of your credit file, and then based on the figures you are looking at, come back with several recommendations.

If you try and go direct to lenders, you could end up applying to the wrong ones, get declined and further damage your credit file.

MortgageMamma

do you have a deposit? did any of the debts default before being passed to the debt collection agencies?

KatyD_2

Hi, long delay on my part i know but thank you for your responses. i have not to my knowledge got any ccj's. i will have a deposit of at least 5%, maybe 10% fingers crossed. i was just mainly concerned about paying a higher interest rate and charges etc because of my history.