ChatterBank24 mins ago
credit default
8 Answers
hello ive a credit default on my credit file for �1500 will this prevent me getting a mortgage even though I would put down 10% (�10000) of the value of the property.
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For more on marking an answer as the "Best Answer", please visit our FAQ.It depends. Credit searches work on a points system. If you have a very bad credit history you will get a certain amount of points for each. The bank then look at the risk to make a decision. If you only have one default and depending on your age, they probably wouldn't bother about it. As long as you have other good credit.
Hi,
the debt is still yours even though you have got a default. it's basically a slap on the hand. with a 10% deposit you shouldn't have any problems getting a mortgage you just won't be able to use a high street lender. the default on your credit file will clear after 6 years. you might want to check you haven't got a ccj if you haven't paid anything for 3 years. talk to an independent mortgage advisor. hope this helps.
the debt is still yours even though you have got a default. it's basically a slap on the hand. with a 10% deposit you shouldn't have any problems getting a mortgage you just won't be able to use a high street lender. the default on your credit file will clear after 6 years. you might want to check you haven't got a ccj if you haven't paid anything for 3 years. talk to an independent mortgage advisor. hope this helps.