Hello!
I was in a relationship which I left with two defaults under my name and credit file. These have both been paid off but it’s my understanding they remain there until 2024.
My partner and I want to buy a house and I’m worried (petrified) that these will stop us from buying even though they have been paid off. The total for both together was $5000.
Has anyone been in this position? What was the feedback and did you still get approved for a home loan? We have $100k in savings and the house we are buying is around $650k
2 Replies
Yes this was us 3 months ago. We hired a lawyer to have our debts removed from our credit history files . Any unpaid debts were negotiated and paid out. We just bought a house based on a clean file . It's the only way to do it.
I would talk to a Mortgage Broker. I had one who did a mock application and was able to advise a friend what they needed to do to improve their credit rating before reapplying in three months time