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erinbrooke

What are our mortgage chances?

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Hi all,

 

In 2007 my wife and I were forced to close our business. We sold our house and went into rented.

 

With job opportunities being few and far between for me I defaulted on two accounts and we took out a DMP with Payplan to keep a grip on things.

 

I subsequently went self employed in my trade and have had a steady flow of work since. My wife got a full time job with a company and has been there for five years now.

 

My question is, how likely would it be for us to get back on the housing ladder? We have maintained all of our commitments since 2008, but I still have these two defaults although I dare say I could contest one of them that is with Lloyds TSB and in relation to charges from them that took me into an unarranged overdraft.

 

We still have the DMP in place with Payplan.

 

Any advice would be greatly appreciated as it is rather soul destroying paying rent....

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What date are the defaults registered ?


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January 2009 and February 2010 :sad:

 

My Equifax Credit Score is 378 which lists as 'Fair', but I understand that counts fro nothing.....

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Given how things have tightened up with mortgage applications I think you'll struggle until the defaults drop off your credit report :(


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Please consider making a donation, however small, if you have benefited from advice on the forums

 

 

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My advice is based on my opinion and experience only. It is not to be taken as legal advice - if you are unsure you should seek professional help.

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Given how things have tightened up with mortgage applications I think you'll struggle until the defaults drop off your credit report :(

 

Do oyu think I would stand any chance of getting Lloyds TSB to remove theirs? They paid a DD out of an account that took it overdrawn and then proceeded to charge me for being overdrawn, then ultimately registered a Default... It was an account that I had never used and by mistake used the account number to set up a DD with T Mobile. So never really took any notice of the account till the letter arrived saying a default was registered.

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