ChatterBank1 min ago
Mortgage Chances
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Hi, I have four defaults on my credit rating. Two of them are now paid up in full, I will have the other two paid up by April or May next year. One of the accounts defaulted in November 2008, the other three all defaulted in 2009. Once I have settled all the accounts in full I will then start saving for a deposit. Can anyone tell me what my chances will be of actually getting a mortgage in around 18 months from now, once I have some money saved up?
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For more on marking an answer as the "Best Answer", please visit our FAQ.The settled defaults will impact less over the years once settled, how much will vary with each individual lender. However when they call for the full report they will see the number of defaults and this will impact. When the time comes you may do better going to a mortgage broker who may be successful with a non mainstream lender.