Default coming off - how quickly can I apply for a mortgage

tommyedinburgh

The default I have comes off on Friday 22nd November.

I would like to apply for a mortgage straight away, can anyone confirm/recommend if I need to wait much longer for the CRA's to update their systems or should it fall off automatically on the day?

I intend to apply to Barclays for my mortgage. I'm keen to get things moving along ASAP.

[Deleted User]

It should be automatic.

But it’s best to apply for a free statutory report to confirm first.

maxximus75

Don't be too trigger happy



I would make sure that it is definitely removed from ALL three of your credit reports before even thinking to apply for a mortgage.


To be on the safe side, I would wait at least a month after the default drop date.

Thrugelmir

An old default shouldn't in itself stop you from applying for a mortgage. With the provisio of being subject to an individual lenders criteria.

tommyedinburgh

Thrugelmir wrote: »

An old default shouldn't in itself stop you from applying for a mortgage. With the provisio of being subject to an individual lenders criteria.

It was denying me access to the better rates.

[Deleted User]

tommyedinburgh wrote: »

It was denying me access to the better rates.

But it doesn’t stop you getting one period does it?
You can always remortgage at a later date.

It’s not just your history that dictates a mortgage - other debts, affordability, salaries etc are also taken into account.

tommyedinburgh

!!! wrote: »

But it doesn’t stop you getting one period does it?
You can always remortgage at a later date.

It’s not just your history that dictates a mortgage - other debts, affordability, salaries etc are also taken into account.

You've lost me a little here. I'm confused as to why I'd go to the bother to apply with one provider to then remortgage. Surely I'd be better just to wait and apply with my preferred provider?

That aside, I asked a specific question and I'm very greatful for the relevant replies and advice. I wasn't seeking clarification on whether I could or couldn't get a mortgage.

boo_star

tommyedinburgh wrote: »

You've lost me a little here. I'm confused as to why I'd go to the bother to apply with one provider to then remortgage. Surely I'd be better just to wait and apply with my preferred provider?

That aside, I asked a specific question and I'm very greatful for the relevant replies and advice. I wasn't seeking clarification on whether I could or couldn't get a mortgage.

I agree with you here, it is correct that its not stopping you applying for a mortgage but faffing about with remortgaging for the sake of a few days is nonsensical.

You have been given the correct advice though, it should drop off automatically but getting copies of your credit files, on say the following Monday, is the most sensible thing to do just in case.

tommyedinburgh

Application accepted - heard today. Happy days.

SimonBck

I had a default drop off my credit report for Transunion before the actual 6 year date passed (31/12/13). How long did your default take to disappear from the other CRAs?

[Deleted User]

SimonBck wrote: »

I had a default drop off my credit report for Transunion before the actual 6 year date passed (31/12/13). How long did your default take to disappear from the other CRAs?

When did it drop off?

It may have dropped off becuase it's been sold on to a DCA