Hi everyone I’m just looking for a little bit of advice and wondering if people thought it would be worth me speaking with a mortgage advisor post COVID-19. Or if people think I have no chance of being accepted for another mortgage so I would be wasting my time.
I started defaulting on my mortgage in April 2018 when I realised I couldn’t afford the mortgage payments I put it straight on the market but this took me a few months to find a buyer and then a further few months to complete the sale. Sale of the house completed in October 2018 and I moved in with my mum. I have since been living with my mum and saving money I have paid off all debts (Car, credit cards etc) and I have no further defaults on any accounts since October 2018. I have 1 credit card that I got to help me build my credit score up again, that I use to put small purchases on and I pay off on time and in full each month.
A little background: prior to April 2018 I had never defaulted on my mortgage payments which I held for 5 years however in March 2018 I went on maternity leave and I was only eligible for SMP. Myself and DS father had agreed that I would pay the mortgage as it was my house which I bought before I had met him and he would pay the other household bills anyway 10 days after DS birth I had found out he was having an affair, he moved out and all financial arrangements between us fell apart. Stupidly I had no savings as a buffer to help me through. I literally had £560 a month to live on from SMP and as soon as I realised I wouldn’t be able to afford the mortgage I put my house on the market.
I stupidly put my head in the sand when it all happened and ignored letters etc from the mortgage company which I know was Very silly of me, I just couldn’t see a way through the mess!
Does anyone know if I would likely be accepted for another mortgage given the past defaults? Any advice is greatly appreciated!