Historical Bad Credit

Posted on 7 July 2011 by Darren

We have a bad credit history from about 12 years ago.  We would now like to sell our home and move to a larger property, what would our chances be of obtaining a mortgage?  We would hopefully have £45,000 to put down as a deposit.


Credit records are kept for 6 years, after which they fall off the back of your file and are not reported.  This will now work in your favour as most lenders rely on a credit search as part of their application process.  You will still have to answer honestly any general questions such as "Have you ever entered into a payment arrangement, had a default, CCJ or judgement for debt registered against you" that appear on the application form.

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 offer further advice on 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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