Satisfied Default

Posted on 13 August 2012 by Enitan

I have a default on my account due to lost correspondence with my bank when I was on out of the country. This has now been satisfactory settled about a year ago. I earn £42,000 and I am looking at getting a mortgage on a £135,000 house and I have 15% of the amount as deposit. I am unable to wait another 5 years until the default leaves my credit history so where do I stand?


It may be possible to get a mortgage now because the amount you want to borrow is a low multiple of your annual salary.  It would be better if you had a larger deposit, but depending on the rest of your personal circumstances I think it would be worth testing the water.

I believe 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 take further details and see if it is possible to get a mortgage for you.


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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