What to do about ICB and debt?

Stupid question, I know but, have you approached the bank that you originally defaulted the loan with? As they would be fully aware of your history, would they not be more inclined to offer you a mortgage? Possibly 92-95% mortgage? You could always get a loan to cover the short-fall and remortgage in 12 months to clear the loan? IMO tho think you'd be mad getting 100% mortgage at the moment anyway - interest rates are sky-rocketing at present and as stated by previous posters, your house value may not rise in line with it.

Only other option that I can think of is your partner going for the mortgage on their own - won't be offered as much tho!
 
Dare I say it, but would it make sense to rent until such time you can get a mortgage on decent terms?
 
Hi - very concerned now. I have just received by credit report from ICB ahead of approaching a lender with the hope of securing a 100% mortgage. There are two loans I have/ have had with BoI which aren't listed which have perfect repayment records. My MBNA cc is on with just one repayment in 24 missed. However there is also a €500 'loan' to cover the cost of a HP television three years ago with about 4 missed payments i.e. missed a payment, missed a second payment, paid arrears on the two, and two months later missed another. It was paid off completely. It was foolish and I never thought that it would have implications - I would just simply forget to pay it - young and niave. I am really concerned that this will affect my mortgage application. I have a very good, secure and pensionable salary (civil servant) - have I really messed up my future?
 
For a person with bad credit history, I really dont think getting only a 90% mortgage should be considered "ridiculous".

I got a mortgage of 92% back when there was no such thing as 100% mortgages for first time buyers. I had to come up with the 8% myself - easier said than done, but thousands of people before you have done it because they simply had to.

If you really are both earning good wages, perhaps you should wait a year or 2 and try and save some of the balance.

As regards the ICB report, approach the original lender both over the phone and in writing , explain why you had defaulted on the payments and ask them to consider removing it from your records.
 
As far as I am aware everything to do with your credit rating loans etc is kept on the ICB record for 5 years. This includes loans that are active without bad history as well.
You can make an application to the institutions who listed you ie. the credit card company and appeal to them given the length and the circumstances etc to remove you from the ICB but they do not have to and this is the only other way of having something removed.
 
CCOVICH said:
Maybe they only had 2 years of data? Would a request filed under the DPA oblige them to reveal less data than would be the case if you filed a request through the normal channels? Would a name change lead to a new record being set up?

Fact is (according to the ICB), the stated period is 5 years. I guess it may not apply in all cases, and so the OP is better off going directly to the ICB themselves.
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They retain the most recent 24 repayments (which monthly would be two years).
This means that either they keep a) the last 24 repayments of an uncleared loan, or b) the last 24 repayments of the loan that is cleared for 5 years.

Either way, once a loan is cleared it is removed from your record after 5 years.

As for the OP, hate to be brutal but there is nothing you can do about this situation, hard as it seems this is the consequences for not paying off your debts, I had a spot of bother 5 years ago (just got into 3 months arrears) and as it took me 2 years to pay of everything in full, I am looking at another 2 years before the last problem loan vanishes off my ICB. I'm afraid there is nothing you can do about it, it my case it was a hard learned lesson, but on the other hand friends of mine who laughed at me for being a tenant while they panic-bought houses they are not only struggling to pay off, but watching devalue bit by bit are probably worse off.
 
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