Lsap help!!!!!!

Discussion in 'Army Pay, Claims & JPA' started by gingersweep, Aug 24, 2011.

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  1. Hiya,

    not sure if anyone can be of any help here but im trying to get a mortgage together to make a first purchase of a property. i discovered i could get LSAP - which is cool, but on search of my credit report it come up a 'default' for a nasty student loan a few years ago .....all being paid off now and wasnt aware of the default until now!!! so.....bang goes any chance of a mortgage!!!

    so.....in steps my father-in-law whose offered to take the mortgage on in his name - fantastic!!!...or so i thought!!!!! which leads me to my question......what are the guidelines on LSAP if the father-in-law was to take on said mortgage? i have no access to JPA atm as im on leave......and JPA arent too helpful on the phone!

    does anyone have any clue?

    cheers in advance! :)
     
  2. Have you considered going to Experian and paying to get the default removed?
     
  3. i wasnt even aware i could do that???
     
  4. i wasnt sure if having a 'deed of trust' written by a solicitor would be enough to maybe satisfy the LSAP criteria?

    its a long shot i know!!! =|
     
  5. I couldn't say for sure but I don't believe you can get LSAP for someone else I think to qualify for it you need to be buying the property yourself as I say I honestly don't know so you would need to get it checked out. Me and the wife have applied for LSAP through forces homes they are really good and do everything for you all you including getting you a mortgage, they are expensive but all you have to do is move in they do everything including all paperwork and bidding for the property. Give them a call they will be able to help and advise you. Best of luck
     

  6. thanks for your reply!! i was told because of the initial 'default' on said account that ive no chance of getting a mortgage myself - even on a joint mortgage. otherwise id try forces homes!!! Im stuck!!!
     
  7. How long ago was the default on the studen loan? Defaults usually stay on your credit report for six years. You can only have it removed after the six years is up.
     
  8. hiya - ive just finished paying off one student loan - then a second cropped up that i wasnt aware of - by the time i was made aware it was already on default - which was last year. it seems a tad unfair really as student loan company made no attempt to even tell me this one existed. even during the vast amount of phone calls ive made to them regarding when i paid of the first student loan did they even suggest that i owed them more!!! they were just 'yep, the accounts all settled'!
     
  9. One default would not result in a mortgage being declined. Obtain a copy of your credit file and check it thoroughly.
     
  10. ye ive spoken to 2 mortgage advisors and the bank who advised me that yes, one is enough to decline a mortgage these days :crash: