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Do mortgage lenders care how long ago a default was settled?
big5824
Posts: 11 Forumite
Does anybody know if banks care how long ago a default was settled, or is it just the date of the original default that matters?
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yes they care how long ago it was settled0
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Tells them a lot about you as a potential borrower. .0
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They all differ, some care, some do not, some will not mind either way but you may score better if it was cleared sooner rather than later.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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Conversely some lenders would rather you have an unsatisfied default from 5 years ago then one that was unsatisfied but paid off very recently.I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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