Hi all,

I was just wondering, if we were to apply for a mortgage-OH has perfect credit, I have had defaults on credit accounts in the past 2 years. I have had no mortgage defaults in the past-house sold 3 years ago-although i had arrears because of divorce. No CCJ's. When i look at adverse credit mortgages-it says 'defaults accepted' etc-does it mean defaults on credit accounts or mortgages?

Cheers, B

Hi B,

If the lender has put 'Defaults accepted' it generally means non mortgage defaults (ie credit agreements which you have not paid). Lenders class missed mortgage payments as Arrears, these are what most lenders are worried about. If the arrears were over 3 years ago then you shouldn't really have too many issues as most lenders will only look at the last 12-36 months.

Hope this helps,

Dan