Defaults & mortgage?

pitbullpeebs

I currently have 4 partially settled/settled defaults, these occured because of my marriage breaking down. I sold my house & payed them off but they obviously are still showing on my credit file. I'm currently renting as I don't think I can get a mortgage again at the minute. I've been told that most mortgage lenders will consider you if the defaults are over 2 years old? Is it worth me putting a notice on my credit file explaining the reason they occurred? I had a mortgage for 16 years & never missed a payment, do they take this into consideration when applying?

ap1985

Good morning,

When did these defaults occur? They usually stay your file for 6 years.

How big a deposit do you have etc.? I guess lenders will look at the bigger picture but it would depend on affordability, deposit etc.

pitbullpeebs

ap1985 wrote: »

Good morning,

When did these defaults occur? They usually stay your file for 6 years.

How big a deposit do you have etc.? I guess lenders will look at the bigger picture but it would depend on affordability, deposit etc.

Morning, they are around 3 years old but only settled in the last few months. Hoping to have around 15-20k deposit.

ACG

Do not put a notice of correction on. When you do a credit check with mortgage lenders, all of the figures and numbers get read by their computer. The computer can not read and understand a message. That means you may automatically pass a credit check, but the note will throw it out - it will not affect the overall decision but it does delay it.

As t whether or not you can get a mortgage it depends on the finer details. If you have £50 defaults on mobile phones then you may have high street options available, if you have £20k defaults on a mortgage then you are going struggle, chances are it falls somewhere in the middle and so the options will likely be somewhere in the middle.

Get your credit reports infront of an experienced broker and see what they suggest.