Hi
Sorry if this has already been asked.
Situation - FTB, joint application, one applicant very good credit score, one applicant has credit report showing one default (to go July 2013) and one repayment arrangement.
Also, both applicants have current repayment arrangements with various creditors for old debts. These defaults, as above, have now mostly gone from both reports but are still there as an outgoing expense.
Question - When a mortgage is possible (post July) through a new build scheme or other, is it necessary/advisable to tell any mortgage broker/lender of the existing repayment arrangements? They are not IVA's or DMP payments as such just debts we defaulted on 6+ years ago and are managing the repayments ourselves.
Please help??
Sorry if this has already been asked.
Situation - FTB, joint application, one applicant very good credit score, one applicant has credit report showing one default (to go July 2013) and one repayment arrangement.
Also, both applicants have current repayment arrangements with various creditors for old debts. These defaults, as above, have now mostly gone from both reports but are still there as an outgoing expense.
Question - When a mortgage is possible (post July) through a new build scheme or other, is it necessary/advisable to tell any mortgage broker/lender of the existing repayment arrangements? They are not IVA's or DMP payments as such just debts we defaulted on 6+ years ago and are managing the repayments ourselves.
Please help??