Good Afternoon and happy Friday!!
This is my first message so hopefully it goes well,
Basically my husband and I have been applying for mortgages with our broker for a couple of months now! - NO JOY!
We have put an offer on a house in South London and have a strong 50% deposit currently in savings and a stable income to back the mortgage we want.
We keep being declined because of a historic credit card default that was put on the credit report 5 years ago "2008" - We had been in talks with this debt agency since June 2009 about settling the account as they were chasing for much more than the orginal debt we have letters etc to back this up, We had no joy so in the end just thought lets get rid of this and pay so we paid this off in full about the end of Feb last year.
A couple of the banks underwriters have came back to us saying if we had simply set up a payment plan last year it would have been better than paying the debt in full?!!!! MADNESS! Its as if staying in debt was the right thing to do?!
We have no current debt and this was the only historic debt and still we cannot get a mortgage we are due to have our 1st baby in 2 months and this is all getting very stressful any advice would be greatly appriciated!
This is my first message so hopefully it goes well,
Basically my husband and I have been applying for mortgages with our broker for a couple of months now! - NO JOY!
We have put an offer on a house in South London and have a strong 50% deposit currently in savings and a stable income to back the mortgage we want.
We keep being declined because of a historic credit card default that was put on the credit report 5 years ago "2008" - We had been in talks with this debt agency since June 2009 about settling the account as they were chasing for much more than the orginal debt we have letters etc to back this up, We had no joy so in the end just thought lets get rid of this and pay so we paid this off in full about the end of Feb last year.
A couple of the banks underwriters have came back to us saying if we had simply set up a payment plan last year it would have been better than paying the debt in full?!!!! MADNESS! Its as if staying in debt was the right thing to do?!
We have no current debt and this was the only historic debt and still we cannot get a mortgage we are due to have our 1st baby in 2 months and this is all getting very stressful any advice would be greatly appriciated!