London and country mortgage application, advice

[Trickybrief]

I am in the middle of filling in application in principle online but I’m slightly confused.
It asks ‘do you have any other borrowing’
This includes credit cards, overdrafts etc.
I do however I don’t owe anything on them, do I still include these with a zero outstanding balance ?

Does it go on to ask how much you owe, or is that the only question?

It says

it is important to tell us about your credit cards, overdrafts, store cards and other borrowing.

Then it asks for
‘type’
‘provider’
‘how much is outstanding’
‘Will this still be in place when the mortgage starts’ with the options - yes, paid off by mortgage, paid off by other means.

If you have credit cards, overdrafts, catalogues, etc with a zero balance. Ie do not owe on them you do not need to declare.

You do need to declare, because they will see the accounts when they check your credit file.

List them, and then put the amount owing as zero. Back it up by saying already cleared when it asks if they would be clear by the time you get the mortgage.

I’d consider closing them if you don’t use them?

Thank you, I have listed them with a balance of zero. I’m not holding my breath as I do have two old defaults which I have also listed but I thought it was worth seeing where I stand rather than presuming I have zero chance of owning.

Yes as you have done. I didn't declare one to them because it was my emergency one I never use but it showed up on my credit report and they questioned me about it.

Don’t lose hope, I’ve just been accepted for a mortgage with a very sketch background.

My broker told me that as long as the defaults were settled and over a certain age (sometimes as little as over 12 months) you should be fine. Good luck!

WifOfBif
Thank you, I really hope so!
The defaults were quite recently settled in full but first defaulted in 2014 so I’m hoping they are old enough to not matter too much.
I’m desperate to get out of private renting and just feel settled.

I would imagine with defaults registered almost 5 years ago, you’ll be absolutely fine.

I had some money problems after a bereavement and when I applied I had a CCJ that was five years old, and two defaults - one three years old and one two years old - and I was accepted. Best of luck!