Skip to content

Avatar
Log In
Please consider registering
Guest
Forum Scope


Match



Forum Options



Min search length: 3 characters / Max search length: 84 characters
Register Lost password?
sp_TopicIcon
First time buyer with defaults
Avatar
MLChaz
2 Posts
(Offline)
1
07/01/2021 - 10:27 am

Hi,
My partner and I are hoping to buy our first place in the near future however I have 4 defaults from 2016 – 2018 on my file. These are all settled at 0.00 and her credit rating is immaculate.
We have a £40k deposit and was looking at properties between £230k – £250k, so we have over 15% deposit. How likely would it be for us to be approved for a mortgage with these defaults? I have taken all the steps
to improve Credit rating but just these defaults dragging me down (Experian I am in Fair category, and ClearScore is 301)

thanks
C

Avatar
101 Posts
(Offline)
2
07/01/2021 - 10:27 am

Hi, thanks for getting in contact.

Based on the above information I believe you will have a good chance of approval although it will of course come down to the finer details.

It’s an ever changing market right now therefore the bigger your deposit the greater your chance of success.

Avatar
MLChaz
2 Posts
(Offline)
3
07/01/2021 - 10:27 am

Thank you David

Forum Timezone: Europe/London
All RSSShow Stats
Top Posters:
jrlsmc890: 12
beepboopbeep: 12
Allison79mw: 11
walt46: 11
ashley_987: 10
Redpanther89: 9
nursek: 8
M_wannabe: 6
RussH: 6
ERG005: 6
Newest Members:
testls
paulgough
ThomasMoubs
Davidjohn753951
Tim453
joric
RelyServices5
RobertHep
ncubemp
Help2022
Forum Stats:
Groups: 1
Forums: 12
Topics: 156
Posts: 556

 

Member Stats:
Guest Posters: 0
Members: 411
Moderators: 5
Admins: 3
Most Users Ever Online: 207
Currently Online:
Guest(s) 1
Currently Browsing this Page:
1 Guest(s)

Read Our Latest Reviews

4.94 Stars - Based on 2377 User Reviews

Your home may be repossessed if you do not keep up repayments on your mortgage.