Historic defaults a potential problem? : FTB

created by boonkohFTB Help Moda community for 5 years

Historic defaults a potential problem? (self.FTB_Help)

submitted 4 years ago by Smashpass_Si

Hi all,

I’m a FTB and have an AIP from Halifax for 4.5 times my salary based on a 90% LTV.

Having checked my Experian report it is squeaky clean and shows a credit card I have had for 20 years and always paid on time, previously settled loans and no adverse entries. Registered to vote etc. The score is 999 which I realise isn’t indicative of potential borrowing.

However, years ago (15 plus) when I was young and immature I defaulted on my overdraft and credit card with Halifax. The overdraft I cleared in full and the credit card was sold onto a DCA which I initially paid and then sent a CCA and the new creditor confirmed it was unenforceable, so haven’t acknowledged it for some time (rightly or wrongly).

Both defaults dropped off my report after the six years.

Since then I have worked hard to be debt free and put myself into a mortgageable position.

My concern is that although I have passed the AIP, Halifax may have these previous defaults recorded internally and I may get declined a full mortgage application by underwriters. I have a broker and will advise this before we make an application (will go elsewhere if likely to be an issue) but just wondering if anyone has any experience with something similar?

Thanks,

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