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Joint mortgage with satisfied deafult
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CurlyM28
Posts: 1 Newbie
Hi - I am looking for some advice if there is anyone out there that can help..
My partner already has a mortgage with Nationwide and we are currently looking to add myself to this and buy a new property.
I have a satisfied payday loan on my account from 2020, before it was satisfied there were quite a few default payments. As this is on my report now until 2026, will this affect my chances of being added to a joint mortgage?
There is nothing else adverse on my credit file.
Any comments/help will be massively appreciated
My partner already has a mortgage with Nationwide and we are currently looking to add myself to this and buy a new property.
I have a satisfied payday loan on my account from 2020, before it was satisfied there were quite a few default payments. As this is on my report now until 2026, will this affect my chances of being added to a joint mortgage?
There is nothing else adverse on my credit file.
Any comments/help will be massively appreciated
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Comments
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It might affect your chances of bening added.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, 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
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i would wait or your going to bring their credit file downDon't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
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What do you mean by "default payments"?
A default is registered when there has been a minimum of three consecutive missed payments. The amount and date are added to your credit history. Late/missed payments are usually reflected by a one, two, three etc depending on the number missed.
How these will be viewed by a lender really are dependent on what is visible. Get a copy of a credit report and put it in front of a broker.
... and not to be pedantic you aren't being added to a mortgage if you are moving. You will be applying for a new joint mortgage and possibly porting an existing product to that new mortgage. A broker can assist with this, too.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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