Default on credit file and getting a mortgage

Rmgray86

I've got a number of defaults listed on my credit file. They will be 5 years old in July this year (5 years from when noted on file) so I understand they will drop off as I have fully paid them all off now. Does that mean I need to wait to apply for a mortgage until then? I am worried about a credit check being done and then being refused which will affect my score, or being offered a worse interest rate. Should I just wait? My predicament is that my partner and I split up and we were living with his parents. So now I'm with mine really far away from any of my friends, who I really need at this time. So I'm sort of in a rush to get back to the area, but don't want to rent....tricky 

Rmgray86

Sorry 6 years! This year it will be 6 years from the default date (not the date I paid it off) 

[Deleted User]

A credit check will simply appear as a search and, of itself, is of no concern. Any impact on the score the CRA gives you is irrelevant - it's a not a real score or a factor in lending.

If you're concerned about your history, use an adverse credit broker to best place your application. But five year old settled defaults aren't the worst thing in the world.

chrmc

How many defaults are there and are they all settled? 

ACG

They do not always immediately drop off on the 6 year anniversary. Sometimes it can take a couple of weeks or a month. 
Also the people who you defaulted may have internal records going back longer than 6 years. 

But in the main you should be treated like someone who has never defaulted once they have all dropped off. 

Lenders do not usually increase rates if you have a poor credit score (there are a few exceptions but they are small lenders). Also a DIP does not show as a pass or fail, it just shows as a credit check. Even if it is declined, you do not need to declare any declined applications as you did not get round to applying. 

Unless you have found somewhere, I would probably hold off until your report is clear.