Could I get mortgage with previous bad credit

dublinlass79

Registered User
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Hi All

Newly registered but I have always used this site for advice over the past number of years and followed Brendan Burgess impressive challenges along the way!

Just seeking some mortgage advice.

Current mortgage with EBS which was taken out on my own.

Due to downturn lost my job and had 7 missed mortgage payments over unemployment period of 18 months. (e198 per week statement payment for 18 months with no savings). I also had credit card revoked which was paid back in full earlier this year.

Is a new joint mortgage with my husband out of the question ? I have been paying my mortgage in full since I returned to work September 2015 and arrears were cleared in 2018.

Credit card payments cleared this year.

No other loans.

Current mortgage is 140k left on it, we would be looking for joint mortgage of e250k. My husband has excellent credit history and qualifies for e225k on his own.

ICB report - clear
CCR - was only showing credit card balance earlier this year (should be marked as paid now)

Any particular lenders consider us in this climate ?

Thank you

Ciara
 
Last edited:
Hi Ciara

You missed only 7 payments but took 5 years or so to catch up? Is that right? Or longer if you include repaying your credit card? Did EBS not restructure your mortgage?

Seems unlikely that you would get a mortgage for another 5 years or so.

But have a chat with EBS. If you fully cooperated with them, they might consider it.

Do you have a cheap tracker? If so,they will allow you move it to a new home but charge you an extra 1%. That might encourage them to give you a mortgage.

Brendan
 
Hi Ciara

You missed only 7 payments but took 5 years or so to catch up? Is that right? Or longer if you include repaying your credit card? Did EBS not restructure your mortgage?

Seems unlikely that you would get a mortgage for another 5 years or so.

But have a chat with EBS. If you fully cooperated with them, they might consider it.

Do you have a cheap tracker? If so,they will allow you move it to a new home but charge you an extra 1%. That might encourage them to give you a mortgage.

Brendan
Hi Brendan

No I am not on a tracker. I will talk to them again, they had indicated that joint mortgage should not be an issue in March just before covid when I had met with one of their mortgage managers but they never came back to me, assume it was due to covid and their new cautious stance they are more than likely taking with borrowers as a result.

Yes it took me a few years to pay back the arrears. I was earning 60k before my redundancy in construction area but took up admin role earning minimum wage of e9.55 to get myself back working. I was single mother paying creche fees of e900 a month while working in that role. I was actually at a loss once I paid petrol, tolls etc to get there and back in addition to creche fees but thought the fact that I was working would help me get a permanent job full time. It finally paid off and I secured a permanent role in health and safety position earning a good salary again in 2017.

I had wrote to EBS and asked them to increase my monthly mortgage repayments by e200 to clear the arrears and was doing that for nearly 2 years when I discovered that my increased payments were not going against the arrears but off the capital instead. Long story short, EBS accepted that this was their error when they discovered my correspondence to this affect.

I had asked for a full review of the error to be set out to me in writing on 4 separate occasions since as I wanted to see how they calculated this and off set it against the arrears but never got one written correspondence. I did receive a recent letter from them (May 2020) advising that it would be unfair to penalise me with late payments due to some other error on their part and as such no record of late payment of mortgage would be noted on my mortgage. The late payments were reported to ICB but as it was more than 2 years ago there would be nothing to rectify on the report. Ive no idea what they mean by all of this, anybody I get on phone doesnt really explain it to me properly. Would that mean ESB have wiped complete record of arrears and late payment ? When you ring them you seem to get a different person all the time and they have you on hold for 30mins or so just reading the notes on your file and all they say is no weve no arrears recorded anymore. I seem to get no where with explanation from them with exception of this May 2020 letter.

Looks like I'll have to hold on to my own property for while longer and continue saving until 5 year passes. But it could be worse, finaly debit free and have a job and some good savings now to weather another storm.
 
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