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Closed accounts on credit file

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boring1
boring1 Posts: 69 Forumite
Debt-free and Proud!
in Mortgages & endowments
Hi

Am looking to move home - house worth approx £270k current mortgage £117k , looking to purchase property worth £400k - joint salary of £95k debts of approx £6k

All looking good - however there are 2 closed accounts on my credit file they have been closed 2.5 years but show as an arrangement to pay (i was on dmp that finished 2.5 years ago) no defaults showing - will these 2 closed accounts affect our ability to get a mortgage?

Thanks for reading.
x

Comments

  • YHM
    YHM Posts: 650 Forumite
    They will definitely impact which lenders will consider you.

    Use a broker and they will support you find an appropriate lender.
    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
  • punk84
    punk84 Posts: 245 Forumite
    When do closed accounts drop off?
  • YHM
    YHM Posts: 650 Forumite
    Should drop off after 6 years
    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
  • Firsttimebuyers
    Firsttimebuyers Posts: 161 Forumite
    Fourth Anniversary 100 Posts Combo Breaker
    Definitely use a broker.


    I had the same markers on mine for a loan, I'd paid reduced payments for a period of time while off work sick so the markers showed for a year, then the loan was cleared.


    I got a mortgage with the same bank I had the loan with.
  • boring1
    boring1 Posts: 69 Forumite
    Debt-free and Proud!
    How do I find a decent broker? Read somewhere that it is not a good idea to go to the one in an Estate Agent?

    Thanks
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