Mortgage Criteria help

Rb00235

Hi, can someone clarify what this means for Barclays mortgages?
The following will be declined:
“Satisfied defaults* totalling more than £200 and the latest is registered within the past 3 years”

Does This mean that any satisfied default of over £200 will be declined, even if they were 4 years ago?

Or does it mean that you would not be declined in you had 1 default but it was less than £200.


( to explain I have a satisfied default over 3 years ago but for £1200 )

Help from someone who has mortgage experience or who has had a high street lender in a similar situation would be great.

Thanks

ACG

Over 3 years and your default will be within criteria.
Just bare in mind that being within criteria and passing the credit check are very different.

Rb00235

Thank you. I’m fairly confident on passing the credit check on other areas. I spoke with a mortgage advisor for a preliminary review earlier this year and this was the only flag of why I would not be accepted by a high street lender, the default was still within the 3 years at that time.

csgohan4

Ensure the broker is not a conveyor belt broker nor tied to the EA. Get one that also deals in adverse credit and has experience in this matter.


Generally you get what you pay for