Posted on 12 January 2012 by Tim

My partner and I are looking for our first mortgage together. Everything was looking fine until I realised that I had a default on my name which is now satisfied. I defaulted in 2008 and I've and a perfect record ever since. We've both got high credit scores, but is this default for a tiny amount of £207 going to ruin our chances? We've got a 15% deposit and we're looking at borrowing £140,000 with a joint salary of £36,000.


The majority of Lenders now use a credit score as part of their underwriting and if Experian or Equifax are showing yours as high this will stand you in good stead.  You will need to declare the default on any application, but so long as the automated score comes through you will be ok.

I do not think that you should restrict your choice of Lender at the outset and should instead pick the best product available that meets your requirements.  Only if this fails the credit score would I look towards lenders who either don't credit score or have less stringent requirements.

I believe we can help you and that you would benefit from speaking to one of our independent mortgage advisers.  Please call 0344 346 3672 and tell the consultant the date and title of your question, they will then be able to help you find the right mortgage for your situation.


Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.

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