Arrangement to pay credit file marker

Dribiddi · 12 September 2018 at 12:08AM

Hi all

Hoping a mortgage broker or someone who has been in the same situation can answer this
I have looked into this matter a number of time, reading different things, I think I put a past thread up on it but I still don’t really know the answer

So 3.5-4 years ago bank wanted to reduce the overdrafts on my x3 current accounts. Caught me at a bad time, wasn’t as financially educated then as now (had savings I could have used to deal with this but didn’t) and I entered into an arrangement to pay and for the overdrafts to come down £100 p/m over a period of 3-6 months. Stuck to the arrangemts, all good, have always paid credit arrangements otherwise as agreed across multiple credit cards, loans, phone contracts etc.
Hoping to in about 2 years apply for mortgage with 10%+ deposit and little if any personal debt, at least two of these accounts will still show the AP markers within the 6 year reporting.
Can anyone give me a black and white answer, not based on assumption the extent to which this will affect the mortgage application?
(I know the easy answer would be well just wait another 18 months but I’ve already been saving for 18 months as it stands)

Muchos gracias

ACG · 12 September 2018 at 8:32AM

There is no black and white answer as nobody knows what the market will be like in 2 years time. If you had asked this question 4 years ago, I would say you will struggle. If you were buying today, I would say there would be potential options at normal rates.