credit default

[lucabene]

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.

[Oneeyedvic]

It will not prevent you,but it will certainly increase the rate you will have to pay (prime lenders will want a clear search) and lower the options you have.

[lucabene]

thanks for that how long will it stay on my credit file the default also do banks see the same as i see on my credit file.

[ummmm]

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.

[lucabene]

thanks the points i got on the 2 credit files i asked for 1 was very good with 900 the other had 400 which showed up the default. So this is why I was asking.

[ummmm]

I think you can find out which credit ref agency they use and only try the banks that use the one with the good points. Have made any attemp to clear the debt?

[lucabene]

well no i havent didnt think you could.Im abroad I dont know who has taken over the debt. It was owing the halifax. I left all utility bills as well but none of them show up on my credit files it was 3 yrs ago when i left the uk its just that im returning again now.

[hustle1981]

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.

[lucabene]

Thanks for the replies no i dont have ccjs at all like i say i left all utility bills behind thinking i wasnt returning and like i say nothing on my experian credit file, equifax and call credit. Just worried about being turned down for a mortgage thats all.