6 year credit history drop off

debt.monkey1981

My predicament is I have two unsettled defaults on my credit file. They are both due to reach 6 years within the next 10 days leaving my credit history clean. I am trying to sort a mortgage within the next couple of weeks so these are of some concern. one is for £135, the other for £250, so relatively small I would say.

My concern is, my mortgage broker has said that lenders can go back further than 6 years and look at certain things on your credit file, such as defaults, meaning it might not make any difference if I wait a few days.

This is the opposite to what I have always believed to be true, whereby after 6 years information about my defaults is no longer accessible. I cannot find any information through searching the web to suggest what my broker is saying is correct, does anyone have any experience around this area?

Thanks in advance for any advice.

National_Debtline

Hi debt_monkey,


The default would come off your credit file 6 years from the date of default and I am not aware of anyway the lender can go back further than the 6 years.


However, as your time frames are so close together, I wonder if your broker is eluding to the fact that your credit file may not be updated over night, and depending on which file the lender is looking at, it could take up to 1 month to come off (there are rare occasions where it takes longer than that - but that is an error).


From your perspective, it's a roll of the dice. Is your broker suggesting your lender won't carry on because these are outstanding? Could you pay them if you had to? Could you afford to lose the mortgage over £385? Good luck,


Laura
@natdebtline

debt.monkey1981

Hi Laura,

Thank you for your suggestions.

He wasn't suggesting that they wouldn't drop off before 28 days, just that the lender could see back more than 6 years, I was very explicit in my questioning.

I could pay them off if I have to, the larger one is on there in error, though having only recently discovered it I thought it better to let it drop off rather than stir things up again.

fatbelly

I interpreted that as meaning that the lender may be able to see history older than 6 years on their own files, if you have previously defaulted on products you held with them

They wouldn't see defaults older than 6 years on your credit file so maybe your broker is confused.

debt.monkey1981

Hi Fatbelly

You could be right there. The thing is, I'm sure what he is saying is incorrect to some extent, I was just hoping to test the water in case I was wrong.