We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Mortgage and default
misslteg
Posts: 2 Newbie
Hi
I’m in the process of applying for a mortgage, we have decision in principle but I stupidly forgot to declare an old default (8 years old, so no longer on my credit file). The default was for £35 when I was 18 (an interest payment pending on a credit card after I cleared it off, I moved out of home and to uni and the letters weren’t opened, as far as I was aware the card was paid off) and I settled it as soon as I became aware of it. My partner just reminded me about it which is why I didn’t mention it when doing the DIP.
We’ve made an offer on the property and it’s been accepted (new build, with HTB so had to do that first) and I’m now absolutely terrified that it will affect the application. I’ll be speaking to my broker first thing Tuesday but I’m really scared it’s going to be an issue
Has anyone any experience / thoughts on whether it’s likely to cause a problem? TIA.
I’m in the process of applying for a mortgage, we have decision in principle but I stupidly forgot to declare an old default (8 years old, so no longer on my credit file). The default was for £35 when I was 18 (an interest payment pending on a credit card after I cleared it off, I moved out of home and to uni and the letters weren’t opened, as far as I was aware the card was paid off) and I settled it as soon as I became aware of it. My partner just reminded me about it which is why I didn’t mention it when doing the DIP.
We’ve made an offer on the property and it’s been accepted (new build, with HTB so had to do that first) and I’m now absolutely terrified that it will affect the application. I’ll be speaking to my broker first thing Tuesday but I’m really scared it’s going to be an issue
Has anyone any experience / thoughts on whether it’s likely to cause a problem? TIA.
0
Comments
-
As it's no longer on your credit file it will not be an issue.0
-
This wont be a problem.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.0 -
When l applied for a joint mortgage with my wife, l had originally 2 defaults which both ended on September and l applied in the following month in October. Had no problems as long as you apply for the mortgage after your default is cleared.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 247K Work, Benefits & Business
- 603.6K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards