Mortgage for small default over 3 years old?

lis-m

Hi, im looking for some advice on mortgages which i'd possibly be approved for?

I am looking to buy a 'New Build' on a Shared Ownership Scheme.
Full value of house is £170,000 however, i would be buying 50% for £85,000.
I have a deposit of £35,000 so only require a mortgage of £50,000, which would not be a problem with my income.

I do however have a couple of past glitches on my record and wondered how these would affect me.

My credit score with Experian is showing as 'fair' with a score of 798.
I have two defaults under £50 each, one is 3 years old and the other is over 4 years old as follows:
H&M store account for £41 - Date of Default 10.07.2013 (Satisfied)
Hutchinson 3G Mobile for £35 - Date of Default 18.10.2011 (Satisfied)

In addition, i had a loan with Kensington Mortgages which ran alongside a mortgage on a property i sold a few years ago. This was paid in full and has a settlement date of 29.06.2011 (over 5 years ago).... however, i had a couple of (1-2 months) late payments on this account (but not often). So i am worried this will affect me too!

I have had no late payments on any account for the last 3 years. I have a Tesco credit card with a limit of £4,500 which i just use for petrol etc and pay off before the end of each month so my balance on Credit Cards is nil and should therefore show my use of available credit as low.

I have been told that as the defaults are such a low amount, and because they are for a store account and mobile phone account, that they will not be taken into account....however, a default is a default in my eyes so i'm not sure what to think?

I've worked hard over the years to try and repair a bad credit record from previous and wonder if i'm now in a position to apply for a mortgage with any mainstream lenders? And if so, who?

Thanks for any help! x

MortgageMamma

Some lenders will take the defaults into account, others won't, but they are historic, small amounts and satisfied so I don't think you have too much to worry about.


Your best option would be to see a broker to find the lender that is the best match to you in light of the defaults.

hoops77

I would email and call h and m / 3G
Ask them to remove the defaults from your credit file.
Explain your situation and how such small amounts are ruining your life.
If that fails look for any anomalies ie address not quite rite, phone number, date of birth, notice of default etc etc.
I got 4 removed when in a similar vote to you.
Good luck