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Mortgage with bad credit first time buyer

  • 02-09-2020 2:46pm
    #1
    Twinings2016
    Registered Users Posts: 62 ✭✭


    Hi all,

    Perhaps I could get some advice from the boards community.

    I missed approx 3 payments on a credit union loan, around 2 years ago. It was down to losing a job and being in a bad place financially.

    However since then, I have not missed a payment, no arrears on the loan.

    I have also secured a better paying job and have been saving ever since.

    I am worried however that I will have bad credit as a result of this hiccup a few years ago.

    If I do have bad credit as a result, is there any mortgage providers that would offer me a mortgage?

    Just wondering about all this, as just beginning the process. Would appreciate any advice that people may have.


Comments

  • #2
    Geuze
    Registered Users, Registered Users 2 Posts: 13,590 ✭✭✭✭Geuze


    Have you checked your ICB and CCR reports?

    I would start there.


  • #3
    [Deleted User]
    Posts: 4,727 ✭✭✭ [Deleted User]


    As said above, you can get a credit check on the ICB website and hopefully you are in the clear.
    If not, you will likely have to wait 3 more years until it drops off your credit report.

    Were you on an official payment break on the loan?
    Or were you just late paying each month?


  • #4
    Beeabell
    Registered Users Posts: 21 ✭Beeabell


    Hi Guys

    Quick question. am in the middle of a mortgage application and underwriter came back querying ICB report which shows i missed first Direct debit due to it not been set up in time. but i paid over the phone. will this go again me or does anyone know any banks that will look upon this


  • #5
    Trish56
    Registered Users, Registered Users 2 Posts: 1,256 ✭✭✭Trish56


    No it should not go against you once you explain there was a problem with first D/D going through and that you paid it over the phone when it was brought to your attention.

    Beeabell wrote: »
    Hi Guys

    Quick question. am in the middle of a mortgage application and underwriter came back querying ICB report which shows i missed first Direct debit due to it not been set up in time. but i paid over the phone. will this go again me or does anyone know any banks that will look upon this


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