Why are my credit options poor?

dave24872450

back in 2011 Natwest registered a default against me. I then finished paying off the debt back in 2017 but this too is showing on my closed accounts with negative payment history. Surely then, as the default would've dropped off in 2017, this shouldn't be showing in my closed account - is this right? If it stays on my file for 6 years following the final payment then this debt has affected my credit history for 12 years - that can't be right surely?

[Deleted User]

It should have dropped off 6 years from default If it hasn't, dispute it.

dave24872450

Even from closed account?

dave24872450

Dispute with natwest?

bazzyb

Noddle should show the date of the default - what does this say?

It would probably be a good idea to speak to an independent mortgage broker. Some lenders will auto decline for the default, but there are potential options at high street rates who wouldn't be too concerned about a single low value historic default, so long as everything else stacked up ok. A mortgage broker would know which lenders to look at, and which ones to avoid. So even if the default is still within the 6 years you may well still have some decent options.

dave24872450

Thank you.

dave24872450

Default date with noddle is Feb 2014. It says satisfied instead of settled, does this matter?

[Deleted User]

Natwest default should be 2011, if you were defaulted or paying token payments. You can raise a dispute with Noddle.

As others said, more recent default and you should be able to get a decent rate mortgage if everything else is fine, particularly as your wife is also on the application.

Settled/satisfied are basically the same thing. From what I can gather from my report, it appears they use satisfied when it's 'partially satisfied' at other CRAs (e.g. debt wasn't paid in full - so flogged to a Debt Collector/IVA/Bankruptcy etc).