Help needed FTB and Worried sick.
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Bigj2017
Posts: 2 Newbie
Hi guys
Me and the wife are FTB and we went to a broker and was declined with Nationwide and we did tell him we wanted to go with halifax as we bank with them. He said before he goes any further wants our credit reports. We handed them in and he said were fine although i have 1 default for a loan back in 2011 but as was busy we would have to wait a month before he could deal with it now. We decided to go to halifax direct and go tomorrow for a full application we have an AIP and that passed weare finding it so stressful as we are panicing that as nationwide declined us halifax will do the same. We can afford the mortgage easy, will the default on file from years ago stop our chances?
Adivce is very much needed
Thanks Bigj
Me and the wife are FTB and we went to a broker and was declined with Nationwide and we did tell him we wanted to go with halifax as we bank with them. He said before he goes any further wants our credit reports. We handed them in and he said were fine although i have 1 default for a loan back in 2011 but as was busy we would have to wait a month before he could deal with it now. We decided to go to halifax direct and go tomorrow for a full application we have an AIP and that passed weare finding it so stressful as we are panicing that as nationwide declined us halifax will do the same. We can afford the mortgage easy, will the default on file from years ago stop our chances?
Adivce is very much needed
Thanks Bigj
0
Comments
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Easier said than done, but dont worry.
One lender declining you does not mean they all will.
Lenders have differing criteria and credit scoring systems.
Even if Halifax decline you, I would pre pretty sure there are other lenders you could go to as a back up.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
So you have had an issue on your credit file. Who was the loan with?
Why did you decide to pick this up yourself and ditch the broker?I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Broker couldn't deal with it for a month!So you have had an issue on your credit file. Who was the loan with?
Why did you decide to pick this up yourself and ditch the broker?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
kingstreet wrote: »Broker couldn't deal with it for a month!
Well spotted KS
Must be so busy because they are so good.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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With the default mentionned being in 2011 would it be that the broker suggested to wait for a month as that is when the 6 years would turn on the credit reports and the default would drop off?0
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Could be, but not many people can wait a month when they've agreed a sale.Mortgage_Adviser wrote: »With the default mentionned being in 2011 would it be that the broker suggested to wait for a month as that is when the 6 years would turn on the credit reports and the default would drop off?
With them banking with Halifax it would have seemed a logical next option, but why say you're busy when you have a perfectly plausible reason that you're waiting for the adverse to fall off...?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
The loan was with Natwest. Checked my other 2 credit reports from equifax and call credit and only that one default. Am hoping tomorrow goes well this house is perfect for us.
Banked with halifax for 4 years and done the isa for right to buy with them so hopefully shows them am in a better place then 6 years ago.0
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