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  • FIRST POST
    • Christhesparky
    • By Christhesparky 12th Mar 17, 5:45 PM
    • 8Posts
    • 5Thanks
    Christhesparky
    Likelihood of acceptance
    • #1
    • 12th Mar 17, 5:45 PM
    Likelihood of acceptance 12th Mar 17 at 5:45 PM
    Afternoon ladies and gents,
    Could any of you give me an idea of whether We would be accepted for a mortgage,

    85% ltv required on £150000 property
    Combined income of £55000

    Unfortunately I have a satisfied CCJ and 2 defaults from 3 years ago, however my wife's credit history is good.

    Should we see an independent financial advisor, or try halifax who we both bank with?

    Thanks
Page 1
    • ACG
    • By ACG 12th Mar 17, 6:05 PM
    • 14,576 Posts
    • 7,281 Thanks
    ACG
    • #2
    • 12th Mar 17, 6:05 PM
    • #2
    • 12th Mar 17, 6:05 PM
    Are the defaults satisfied?
    Halifax may not be a bad shout, but I think a broker would help your chances. Its a mortgage advisor you would probably need not a financial advisor.
    I am a Mortgage Adviser
    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.
    • Christhesparky
    • By Christhesparky 12th Mar 17, 6:52 PM
    • 8 Posts
    • 5 Thanks
    Christhesparky
    • #3
    • 12th Mar 17, 6:52 PM
    • #3
    • 12th Mar 17, 6:52 PM
    Thanks for your reply, defaults are outstanding, but are in the process of being repaid.

    Would a local mortgage advisor be beneficial, or would an estate agents be just as good?
    • ACG
    • By ACG 12th Mar 17, 6:58 PM
    • 14,576 Posts
    • 7,281 Thanks
    ACG
    • #4
    • 12th Mar 17, 6:58 PM
    • #4
    • 12th Mar 17, 6:58 PM
    General rule of thumb is to avoid estate agent based brokers.
    I am a Mortgage Adviser
    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.
    • Thrugelmir
    • By Thrugelmir 12th Mar 17, 7:41 PM
    • 53,037 Posts
    • 45,411 Thanks
    Thrugelmir
    • #5
    • 12th Mar 17, 7:41 PM
    • #5
    • 12th Mar 17, 7:41 PM
    defaults are outstanding, but are in the process of being repaid.
    Originally posted by Christhesparky
    How much were the defaults for?

    When you say in the process of. Are you paying them off in installments under an arrangement to pay. Or settling now partially or in full.
    “ “Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell.” Sir John Marks Templeton
    • sulphate
    • By sulphate 12th Mar 17, 8:00 PM
    • 1,015 Posts
    • 3,011 Thanks
    sulphate
    • #6
    • 12th Mar 17, 8:00 PM
    • #6
    • 12th Mar 17, 8:00 PM
    I'd suggest an independent mortgage broker too. They will have access to products from many different lenders and will have a good idea of who will accept your credit history.
    • Christhesparky
    • By Christhesparky 12th Mar 17, 8:57 PM
    • 8 Posts
    • 5 Thanks
    Christhesparky
    • #7
    • 12th Mar 17, 8:57 PM
    • #7
    • 12th Mar 17, 8:57 PM
    How much were the defaults for?

    When you say in the process of. Are you paying them off in installments under an arrangement to pay. Or settling now partially or in full.
    Originally posted by Thrugelmir
    One default for £400 the other for just under £3000, currently being paid in installments
    • Xxlouisekxx
    • By Xxlouisekxx 12th Mar 17, 9:23 PM
    • 25 Posts
    • 0 Thanks
    Xxlouisekxx
    • #8
    • 12th Mar 17, 9:23 PM
    • #8
    • 12th Mar 17, 9:23 PM
    General rule of thumb is to avoid estate agent based brokers.
    Originally posted by ACG
    Hi just wondering why do they say to avoid estate agent based brokers please??
    • ACG
    • By ACG 12th Mar 17, 9:45 PM
    • 14,576 Posts
    • 7,281 Thanks
    ACG
    • #9
    • 12th Mar 17, 9:45 PM
    • #9
    • 12th Mar 17, 9:45 PM
    Some of the larger corporates are classed as whole of market, but they have a smaller panel of providers. As an example I think the largest corporate has around 16 lenders on panel - by comparison, I have access to 40-50 plus.

    If a broker works for/with an estate agent, who are they going to be looking after the most? A one off customer or someone who pays their wages?

    Again, the corporates tend to be heavily targeted for sales. Are you going to get best advice from someone under pressure to sell?

    Lastly, most experienced brokers started either for a bank or an estate agents and then leave once they have the experience.
    I am a Mortgage Adviser
    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.
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