Mortgage with bad credit?

Lamalamb

I am hoping within the next year to apply for a mortgage but i have bad credit history from when i was younger.
I have 2 credit cards which will be paid off within the next month and a default which i will also be paying off in afew weeks. But i believe this will be on my file for 6 years.

What are the chances of getting a mortgage

csgohan4

when did you have the default?


You will need a broker who deals in adverse credit

David_White

Mortgages with bad credit are indeed possible but the devil is in the detail i.e dates of defaults, amounts, reason behind it etc.

Lamalamb

I had the account since 2008 but when i look on noddle it says the default didnt start until 2013

Captain_Shambolic

Talk to a broker.


I have a poor credit score due to missed credit card payments, a credit account that I needed to negotiate a payment plan on and a period of long term sickness where I needed loans that would be termed pay day loans.


Typically they'll know which lenders are more flexible with that sort of thing (our options were basically Halifax and Natwest) because if you have a default a lot of lenders simply won't touch you.


Do you know the nature of the default? Because what you think is a default might not be as such.

amnblog

Now we are getting closer to what we need to know.

A default in 2013, when in 2013 (that is key), how much for (that is also key), for what type of debt (also key), are there other issues on the file (also key), how much deposit (key)............

As you can see, it is complex and you need a Broker.

ACG

When it was registered in 2013 and the size of your deposit will dictate on the options available. I am sure there will be lenders but as David says, the devil is in the detail. It probably is one for a broker however.