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Mortgage with a Default - Should I wait?
PapaShango84
Posts: 7 Forumite
Hi there, first time poster and first time buyer.
Myself and my partner are looking to get a mortgage on a 150k new build, with a 5% deposit and help to buy. we have a combined £45k salary.
However I have a default, which was settled on 19/12/11 so will drop off in another month, and a couple of late payments over 6 years ago. Should I really wait for the default to drop off to get better rates / get accepted at all? I have no adverse credit since this default just under 6 years ago.
The rush is that there is only a couple of these houses left and i'm worried about losing out.
Thanks for reading and for any responses.
Myself and my partner are looking to get a mortgage on a 150k new build, with a 5% deposit and help to buy. we have a combined £45k salary.
However I have a default, which was settled on 19/12/11 so will drop off in another month, and a couple of late payments over 6 years ago. Should I really wait for the default to drop off to get better rates / get accepted at all? I have no adverse credit since this default just under 6 years ago.
The rush is that there is only a couple of these houses left and i'm worried about losing out.
Thanks for reading and for any responses.
0
Comments
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I would have thought this could be managed today without too much of an issue.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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