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A Successful Mortgage With Default Story
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LondonBuyer
Posts: 3 Newbie
Hi Everyone,
I've not got a question, but just wanted to post something I know I would have found useful/reassuring a few weeks ago. I have a settled default on my file from just over 3 years ago (no other credit issues at all, just a single settled default for almost £2000). In the past I'd done Agreements in Principles at a few places, and although I got some Ok's, the majority were no's.
The day that we passed the three year since default, the no's started to change to Yes's. We started seriously looking and found a house that we could afford a 7-8% deposit on (Total value £400k)
Found out today from our lender Barclays (one of the banks that previously gave us a no to AIP, that switched to a yes after the three years) that the mortgage offer has been sent through the 10 days after applying. A gigantic relief and something I didn't think would be possible until the default dropped off my credit report.
So not sure if someone else is in a similar situation, and can only find unfortunate stories online, but it is possible!
I've not got a question, but just wanted to post something I know I would have found useful/reassuring a few weeks ago. I have a settled default on my file from just over 3 years ago (no other credit issues at all, just a single settled default for almost £2000). In the past I'd done Agreements in Principles at a few places, and although I got some Ok's, the majority were no's.
The day that we passed the three year since default, the no's started to change to Yes's. We started seriously looking and found a house that we could afford a 7-8% deposit on (Total value £400k)
Found out today from our lender Barclays (one of the banks that previously gave us a no to AIP, that switched to a yes after the three years) that the mortgage offer has been sent through the 10 days after applying. A gigantic relief and something I didn't think would be possible until the default dropped off my credit report.
So not sure if someone else is in a similar situation, and can only find unfortunate stories online, but it is possible!
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