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help with my question please

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  • help with my question please

    Hi Folks,

    Hoping someone can give me some help.
    my partner and I will be applying for a mortgage soon.
    I had a default on my credit report about 3 and a half years ago for £100 for a mobile phone contract I took out for an ex partner. The debt was satisfied as soon as the default came up on my credit report. Since then my credit history has been perfect. My score is sitting at 869 out of 1000. I have a credit card which I clear the balance on every month in full and have no other debts. My partners credit rating is perfect. We have a 10% deposit for a property.

    My question is this:
    Will the default on my credit history , even though it is settled and I have had no further problems (not even a single late payment), stop us from getting a mortgage? Or, since it will be a joint application, will the bank sort of take an average of the credit scores?

    Any help would be appreciated!

    Thanks

  • #2
    Re: help with my question please

    Its not necessarily down to your score itself as each lender has its own criteria and scoring system. In short, the default will not stop you getting a mortgage especially with it being over 3 years ago and for the small amount too. There are a few high street lenders that are fine with that as per their normal criteria such as Natwest & Coventry. A word with an adviser to see what the best deal you can go for is well worth it.
    Anthony
    Compare the Mortgage Market
    http://www.comparethemortgagemarket.com

    Comment


    • #3
      Re: help with my question please

      Hi Anthony,

      Thanks for your answer and your help!

      Comment


      • #4
        Re: help with my question please

        No problem, obviously any more questions or assistance you need feel free to ask.
        Anthony
        Compare the Mortgage Market
        http://www.comparethemortgagemarket.com

        Comment

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