mortgagae advice+default

[conrat]

Can anyone advise if you have a default can you still obtain a mortgage. I am looking for a 110% mortgage but I think I may have received a default in 2002 (however I have since applied for and been accepted for credit cards). I have also obtained my credit file and there seems to be no marker suggesting I have a default. Will the motgage broker search my last six years of addresses?

 

I am renting at the moment and am desperate to get on the property ladder but am fearing rejection. Do I stand a chance.

 

Any advice would be greatly received.

 

Conrat :-|

[Chris_w]

I don't think you will have a problem. I read somthing the other day and someone's credit score was totally screwed but he managed to get a top shelf mortgage. I'll go and find his thread for you.

[Chris_w]

http://www.consumeractiongroup.co.uk/forum/financial-products-reviews-write/110272-mortgage-saving-extra.html

 

Have a read of this:D

[conrat]

Hi Chris, thanks for that, my only worry is that they were consolodating so they would have had equity to borrow against. As we are first time buyers with no equity and also wanting 110% mortgage it may prove to be a problem. As we stand we have only one credit card with balance of £1000-00 and no other creditors this might also be a problem.

[Chris_w]

Have you spoken to an independant mortgage advisor? you could perhaps phone the one in the link. Be totaly honest with them tell them all your concerns and they should be able to advise you much better than me. But my gut instinct tells me that you won't have a problem as a mortgage is a different kind of borrowing than other types of credit. The biggest incentive to keep up repayments is the knowledge that you will lose your home if you don't and they know that. I will say this though it would be better if you could put some kind of deposit down because 100%+ mortgages are generally more expensive.

[conrat]

Yeah dont we know it. The only way would be to borrow the deposit on a loan and I dont think that might be wise. Will have to weigh up pro' and con's. On a happier note though we went for a mortgage in principle offer from the halifax and the credit check came back top notch. We came back with an A (being the highest you can get)....Very Surprised at that.....now just got to find the £700 per month to pay for the blooming house.:-|

 

Thanks for your advice it gave us the confidence to go and see someone inthe first place.

[sequenci]

take a look here:

 

Find an independent financial adviser - IFA - www.unbiased.co.uk

[Chris_w]

http://www.consumeractiongroup.co.uk/forum/financial-products-reviews-write/105735-halifax-mortgage-others-no.html

 

That's realy good news I'm glad I helped a little. just before you decide on what mortgage to choose, and from what lender have a read of this that I found. Better to have as much info as possible before deciding on such a big commitment.