Default impact

dpage18

Hello

I was wondering if any one could tell me how much impact two 4year old defaults that have been cleared would have on a new mortgage to move house . I am looking at borrowing a further 44 grand


I also have been living out my over draft for many years .

Other than that no loans and all boils paid on time.

Thanks

[Deleted User]

A bit.

More than that, we can't tell you.

See a broker if you have a less than ideal history.

dpage18

Ok thanks for your help.

I was note sure if there was a rule of thumb that would be a def no , or a default 4 years into is 6 years sentence would be considerd .

Many Thanks

A4445

It's not a definite no with defaults some will lend with defaults.

robber2

They might just ask you how you are going to afford the additional repayments given that by your own admission you have been in and out of your overdraft for many years.

Good luck
Rob

dpage18

Thanks Guys ,

I have just been promoted and am set to earn a few extra quid So i am hoping after 6 months , I will be in a better place to apply and afford a bigger mortgage . I was just curouse on how much that may hold me back .

Thanks for the advice

Thrugelmir

When were the defaults settled?

How much were the defaults for?

Lenders have different criteria that is applied to every application.

Is a bigger mortgage realistic given you live in a permanent overdraft.

MCGONIS

Thrugelmir wrote: »

When were the defaults settled?

How much were the defaults for?

Lenders have different criteria that is applied to every application.

Is a bigger mortgage realistic given you live in a permanent overdraft.

I swear I must have Dyslexia as every time I see your username I think it is Thierry Mugler (my aftershave brand)

Thrugelmir

:cool2: ...............

dpage18

They where settled in 2015 for 100 and 200

A new job with about 7 grand Patrice will put me in a better position with o.d

Thanks