Mortgage with 5 year old unpaid defaults. Please help!

Thrugelmir

missmarra wrote: »

We are going full application on Monday it won't show up in time otherwise I would do!

There are other ways of communicating facts if one needs to.

Best to maintain just one thread in order that people are aware of the full facts. A previous unsettled overdraft is painting a picture for the lender.

kingstreet

missmarra wrote: »

It's visible on both experian and equifax but my credit score is good. If I disclose do you think it will be ok? I've paid everything on time for over 5 years, don't owe anything other than the defaults & have low credit utilisation

Credit score... Low credit utilisation...

It's all twaddle by the credit reference agencies to help them peddle their subscription services.

In over thirty years, I've paid attention to neither.

People think all this attention to the tiniest detail is important. It isn't. A mortgage is as sophisticated as painting the Forth Bridge, not painting the Mona Lisa.

You've got historic adverse. If your payments are up to date for at least the last two years there's every chance you'll be fine as long as your broker has the full picture.

Narkynewt

marliepanda wrote: »

It's probably a good idea to mention the pending court CCJ claim on this forum when asking for advice.

Your credit score is fairly useless. Your credit history is what's important.

Does your broker know about the court claim?

No I have asked them to put a hold on my account for 30 days, if it does happen to go to court I will just settle the CCJ within 28 days so it doesn't appear on my credit file.

How long will it take to get to court?

How could this show up on my credit file before?

I admit I have had a terrible past when it comes to credit, but that is all over 5 years ago I have paid everything on time ever since.

My credit reports show a lot of payments on time for over 5 years. I accept my past is bad but surely 5 years of positive payments etc will put me in good stead?

Narkynewt

kingstreet wrote: »

Credit score... Low credit utilisation...

It's all twaddle by the credit reference agencies to help them peddle their subscription services.

In over thirty years, I've paid attention to neither.

People think all this attention to the tiniest detail is important. It isn't. A mortgage is as sophisticated as painting the Forth Bridge, not painting the Mona Lisa.

You've got historic adverse. If your payments are up to date for at least the last two years there's every chance you'll be fine as long as your broker has the full picture.

Thank you. I have 2 defaults but they are still active because they are less than 6 years old, they are over 5 years old however. I haven't paid them because my broker said all that matters is the date they defaulted, which is 2012.

Since 2012 when these accounts were defaulted I have had not 1 late payment on any account. I have a few store cards, a credit card and a current account all of which do not even have 1 late payment.

The balance of all of my store cards, credit cards and overdrafts have been paid in full so I owe no money at all. My car is my own, I have no HP agreements.

I have told my broker all about my crap payment history prior to 2012. I really do think if someone looks through my credit file they will see someone who has matured and become much more responsible.

Thrugelmir

missmarra wrote: »

I really do think if someone looks through my credit file they will see someone who has matured and become much more responsible.

To quote yourself.

I haven't paid them because my broker said all that matters is the date they defaulted, which is 2012.

If you lent a friend £50 and they never paid you back. Would you lend them £5,000 if they asked a few years later? Therein lies the answer.

csgohan4

pay your defaults, and you may stand a better chance in the future. Paid defaults are better than unpaid.


You need a good broker who deals in adverse credit, but I wouldn't hold your breath hoping to get a mortgage

robatwork

You are obviously dead set against paying your debts.

You haven't once in this thread made any mention of trying to settle them, even letting them go to court rather than defending yourself or paying, then paying at the last minute.

I don't know why you think anyone would want to lend money to you - you're a terrible risk of defaulting.

haras_nosirrah

why on earth have you handed in your notice on your rental property? You haven't got a mortgage offer yet.

Narkynewt

robatwork wrote: »

You are obviously dead set against paying your debts.

You haven't once in this thread made any mention of trying to settle them, even letting them go to court rather than defending yourself or paying, then paying at the last minute.

I don't know why you think anyone would want to lend money to you - you're a terrible risk of defaulting.

I have en advised not to pay by my broker, but maybe it would be better if I just paid them all off. That way when I make the mortgage application I can tell them I was not aware of them until recently. I made mistakes 5 years ago but I haven't borrowed anything and not paid it back for over 5 years! I have paid my £650 rent on time every month for 6 years solid and they can see this also, so I am not at all a risk!

Narkynewt

haras_nosirrah wrote: »

why on earth have you handed in your notice on your rental property? You haven't got a mortgage offer yet.

My broker has said he will definitely get us a mortgage. Only wanted a bit of reassurance on here but seem to have a lot of people judging me and not being very helpful.

I will report back when I get the mortgage...