Various questions re credit report

loveyourmoney

Hi all


My partner has 3 defaults on their credit report which are now all settled. We are financially linked as we live together and have a savings account. How will this affect me if I or as a couple we look to get a mortgage in about 3 years time? I currently have a mortgage on my own.


What does 'unknown' mean on a credit account status on a credit report?


Thanking you!

Chappaz

The defaults will make it considerably harder to receive a mortgage. Or at the very least, the mortgage you're offered will be far from the best in terms of interest and loan to value.

However, defaults usually fall off 6 years from the date of default, so it really depends how long ago they occurred. What are default dates?

If they happened a while back, then they may fall off before you start mortgage hunting, and then it will be like they were never even there.

loveyourmoney

Hi Chappaz

I've just had a look on Noddle and they were:

Barclaycard - Defaults (payment up to 1 month late) in March 2012 & December 2011.

T-Mobile - Default (payment up to 1 month late) in July 2012.

So at worst they will be all be knocked off in July 2018 which is great as we don't need to apply until 2019.

What a relief!