Trying to find bad credit mortgage

Wilf75

We found a home to buy, a new build, things were looking promising, got a mortgage in principle but then offer was declined. The reason is Precise mortgage company use Experian credit report. so Equifax I have excellent credit but I had a secured loan on a previous property with my late first husband, he attempted suicide and ended up in a nursing home and died. This left me in financial hardship with 2 children, mortgage and secured loan plus other debt. I contacted the lender to explain situation but didn’t do anything so defaulted. Anyway contacted them in writing and made a complaint. They reviewed my case and wrote off the debt due to extenuating circumstances & hardship. So thought it was over but Experian still hold the secured loan as a default payment until next year. This has stopped our mortgage application. I spoke to Experian but I might as well been talking to a brick wall. All other credit reports say account is closed. Doesn’t feel like I will ever move on from this rubbish time in my life. Just want to move forward with my new husband and set up home together.

amnblog

Are you saying this secured loan default is currently five years old?

If so, that in itself will not be a barrier to Precise Mortgages.

What has your Broker said?

Thrugelmir

Experian simply report the data that's provided to them. For the benefit of other business users. Time does heal. Have patience.

Wilf75

Yes Precise said they got adverse credit report my score is 441 even though not got much debt. My husband score is 661. Spoke to Experian and said that the default is having a negative impact on score even though it!!!8217;s nearly 5 years old.
Broker absolutely useless, didn!!!8217;t even tell us we hadn!!!8217;t got mortgage found out because survey fee returned!!!!! So I spoke directly to Precise

amnblog

Scores from the credit agency have no relevant here.

What is important is what is showing on the credit files.

You seem to have half a foot in with the Broker and half a foot trying to sort it yourself.

Get yourself a second opinion from a good independent broker with good experience with adverse cases.

foxy-stoat

You could wait until 6 years has passed and try again, it would of dropped off your file.