Mortgage Default Query

counterfeit

Hi everybody.

After several years of redundancies, mental illness and unemployment my house was repossessed in March 2011. I agreed shortly after the repossession to repay the outstanding amount at £20 per month. I have never missed a month since and all the other financial issues I had leading up to that point have cleared from my credit files.

Next month it is 6 years since the date of repossession and I would like to think the record will drop off my credit file as it is otherwise completely clean. However, the mortgage company still records a D on my file each month despite me honouring the repayment agreement.

Will this drop off my file next month or will it continue to show as a default until I pay off the debt in 75 years time???

rtho782

You might have honored the payment agreement but you've still broken the original terms of the mortgage.

Does it show a default date on your credit file? It will vanish 6 years from that date.

However, you will hit issues when you come to buy a house in the future, even if it's in 75 years time.

counterfeit

Thank you for replying.

My past experiences mean I don't ever want to have credit again. It has taken me from 2003 to now to clean up my credit file and the mortgage is the only thing left with any adverse affect on my credit. I just have a desire to see the file clean. My credit score is still very low and will probably remain quite low as I'm no longer a homeowner and I'm self employed but all I care about is seeing a file with nothing untoward on it. It's been an incredibly long and painful road to get to this point.

As for buying a house in the future I have no desire to ever do that plus at my age it's getting less and less likely that I'd ever get a mortgage. But I will happily live out my days in rented accommodation knowing I've come out of the other side of my financial mess.