Small default

Posted on 9 April 2012 by james

I have small paid default (ap £300) that was settled two years ago.  I want to apply for a 90% mortgage is this possible?

If so who should I apply with?


I recommend that you speak to your own bank/building society first, they will know how you have conducted your accounts with them and have a better understanding of your finances than a 3rd party.  If they do not offer 90% mortgages or are unwilling to accept an application from you because of the default then you should speak to an independent mortgage adviser.

There are several high street lenders offering 90% mortgages who do sometimes accept a small historical default, but it depends on the rest of your personal circumstances scoring highly enough to outweigh the default.  I think it is more likely that one of the smaller regional building societies will look at an application and this is where an independent mortgage broker can help you.  They will know which lenders to approach and how to present your application in a favourable light.

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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