Will a default from 5 Years ago stop me getting a mortgage?

Posted on 3 November 2012 by wayne


Hello just wondering if I would be able to get a mortgage with a default from just over 5 years ago. I have a joint income of £44000 my credit rating is fair and my partners good we would have a 10 percent deposit on a 90000 house thanks.

Wayne,

Based on the brief details, then yes it is possible. However lenders credit scoring at 90% LTV is much stricter than at lower levels, so the amount of the default, whether it is satisfied, and what were the circumstances around it being registered, will be taken into consideration.

If you'd like to talk in more detail about your enquiry, then let me know and I'll get one of our consultants to speak to you.

Regards,

Alistair

contact@johncharcol.co.uk

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