are five year old defaults looked at by lenders ????

[jake44]

Can anyone tell me if defaults that will drop of my credit file be taken into
consideration when remortgaging ?? I am sure that someone had said that some companies ignore defaults completely ??

[manchester1]

Hi Jake, If a default drops off your CR file , then nobody sees it so it will not effect your credit score. However at the time you apply for a loan if there is still a default on your file , then
a) A high st lenders credit scoring programme might include it in its analysis (each lenders credit scoring is set up at differant levels of tolerance)

b) A adverse lender will have products that will ignore them totally.

Hope above helps

Manc1

[jake44]

Thanks Manchester1 . We have a few defaults that clear next year. we are still left with a few for the following year. we have 2 ccj's one is cleared and still has to be marked off in our credit file ( which i am in the process of doing ) The other on is for £227 ( with £200 charges on top )
The balance being about £350 at present. I was looking at the web for BM solutions and they have a relatively good rate ( I bank with Bank of Scotland ) They cater for 1 ccj on that rate but it doesn't mention anything about defaults ??

[manchester1]

Jake44 ,do bear in mind that Bm will have issues re arrears , in that some products will only allow 1 arrear in 6months, and some 2 in 12mnths. But i think you have got time to wait and the products are changing every week, so at the moment we are talking strategy not specifics.

Manc1

[jake44]

Hi Manchester1

I think I am just panicking............ we are just coming off such a bad mortgage deal. I am now beginning to get our head above the water for the first time in years.......... I am trying to clear up our credit file and a few months down the line bothe ccj's will be satisfied. I know that some of the defaults will fall off march/april next year with another couple still straggling. I have just rec'd off er from capital 1 they offered £500.
The charges are £1280 !! i am not sure if I am brave enough to go through the courts myself ........ I will link to the capital one threads later..........