Hello there,
Myself and my fianc!e are looking to buy our first home under shared ownership. The property is valued at £115,000 and we're looking to get a mortgage for £28,000 of that and the rest is rented.
Now, I went through a period of employment and after seeking financial advice, I was advised b the CAB to put in a general financial statement offering 'token payments'. I've been making these repayments since that happened (late 2011) and consequently all of my accounts (2 x student overdrafts totalling £3500, 4 x credit cards with a grand total of £1600) even though they were up to date were put into default. I have, as of November, started settling the balances in full, starting with my store card. This was paid in full, and I've been offered settlement figures for the rest.
Now, I've already managed to settle one store card in full after having a new job with an excellent income. I've increased all of my payments to the other creditors and my finances are generally in good order.
Here comes the issue; I've been turned down for a current account with Santander and a rebuilding card with Aqua. Before applying for them I didn't think to check my credit report. I did so today after being turned down by both and found that not only have my creditors (debt collection agencies) not put onto my file that I'm on arrangements to pay with the creditors, they haven't put the reduced balances on either so it looks like I've not paid anything off for just over a year now and simply left them in default, sitting there with the balances.
Needless to say, my credit score is still 738 which I'm told is a fair score and I'm viewed as a moderate risk. Experian have told me to send in a 'notice of correction' to explain the defaults, which I have done.
I need some advice, however; as stated earlier, I'm in permanent employment with Barclaycard on a good wage and the mortgage repayments are manageable as we went through them with my financial advisor and ISOS housing is comfortable we can afford the house as we have saved the deposit of £1400 ourselves, and we've been accepted.
The advice I need is this;
A/ how do I go about getting the debt collection agencies to update my credit file?
And B/ with defaults and a score of 738, under repayment plans with a number of the credit cards satisfied, but no CCJ's or bankruptcy and all of the defaults are just over 1 year old, how likely is it ill get a mortgage and can anyone recommend anyone?
Thanks in advance.
Myself and my fianc!e are looking to buy our first home under shared ownership. The property is valued at £115,000 and we're looking to get a mortgage for £28,000 of that and the rest is rented.
Now, I went through a period of employment and after seeking financial advice, I was advised b the CAB to put in a general financial statement offering 'token payments'. I've been making these repayments since that happened (late 2011) and consequently all of my accounts (2 x student overdrafts totalling £3500, 4 x credit cards with a grand total of £1600) even though they were up to date were put into default. I have, as of November, started settling the balances in full, starting with my store card. This was paid in full, and I've been offered settlement figures for the rest.
Now, I've already managed to settle one store card in full after having a new job with an excellent income. I've increased all of my payments to the other creditors and my finances are generally in good order.
Here comes the issue; I've been turned down for a current account with Santander and a rebuilding card with Aqua. Before applying for them I didn't think to check my credit report. I did so today after being turned down by both and found that not only have my creditors (debt collection agencies) not put onto my file that I'm on arrangements to pay with the creditors, they haven't put the reduced balances on either so it looks like I've not paid anything off for just over a year now and simply left them in default, sitting there with the balances.
Needless to say, my credit score is still 738 which I'm told is a fair score and I'm viewed as a moderate risk. Experian have told me to send in a 'notice of correction' to explain the defaults, which I have done.
I need some advice, however; as stated earlier, I'm in permanent employment with Barclaycard on a good wage and the mortgage repayments are manageable as we went through them with my financial advisor and ISOS housing is comfortable we can afford the house as we have saved the deposit of £1400 ourselves, and we've been accepted.
The advice I need is this;
A/ how do I go about getting the debt collection agencies to update my credit file?
And B/ with defaults and a score of 738, under repayment plans with a number of the credit cards satisfied, but no CCJ's or bankruptcy and all of the defaults are just over 1 year old, how likely is it ill get a mortgage and can anyone recommend anyone?
Thanks in advance.