Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • tashytashytashy
    • By tashytashytashy 17th Jul 17, 8:21 PM
    • 4Posts
    • 1Thanks
    tashytashytashy
    Mortgage Advice Bureau
    • #1
    • 17th Jul 17, 8:21 PM
    Mortgage Advice Bureau 17th Jul 17 at 8:21 PM
    Hi,

    Me and my boyfriend have recently been declined for a mortgage with Santander due to a ccj on his report. We have seeked advice from the mortgage advice bureau of what our next options could be? The ccj was satisfied 9 months ago. We will probably be looking at a much higher interest with fees from MAB also.

    Santander have advised to take the mortgage in my name but offering a less amount. Boyfriend not sure about this as the money he will be paying in towards mortgage, if we should split up nothing will be to his name? Or to wait until the new year to appeal the decision again.....


    As a first time buyer and new to all of this , not sure the right path to go down.....


    advice please?
Page 1
    • Thrugelmir
    • By Thrugelmir 17th Jul 17, 9:36 PM
    • 55,895 Posts
    • 49,265 Thanks
    Thrugelmir
    • #2
    • 17th Jul 17, 9:36 PM
    • #2
    • 17th Jul 17, 9:36 PM
    Or to wait until the new year to appeal the decision again.....


    (
    Originally posted by tashytashytashy
    Speak to a broker. As the credit history of your partner over the past 6 years is a critical factor. There's little point in appealing a decision either. As you won't over turn lending policy if you don't meet the criteria.
    "Wide diversification is only required when investors do not understand what they are doing." - Warren Buffett
    • CD*
    • By CD* 17th Jul 17, 9:51 PM
    • 9 Posts
    • 5 Thanks
    CD*
    • #3
    • 17th Jul 17, 9:51 PM
    • #3
    • 17th Jul 17, 9:51 PM
    Hi,

    Me and my boyfriend have recently been declined for a mortgage with Santander due to a ccj on his report. We have seeked advice from the mortgage advice bureau of what our next options could be? The ccj was satisfied 9 months ago. We will probably be looking at a much higher interest with fees from MAB also.

    ...

    As a first time buyer and new to all of this , not sure the right path to go down.....


    advice please?
    Originally posted by tashytashytashy
    You could look at getting a 2-year-fixed with a lender,
    and then remortgaging in 2 year's time to a cheaper rate.

    Make sure that you're not sucked in by the headline %age rate,
    a good broker will source based on your total amount to pay over the 2-year period.

    One settled CCJ from 9 months ago isn't that bad, I've seen far far worse.

    How much was the CCJ for?
    • Lilla D
    • By Lilla D 17th Jul 17, 9:57 PM
    • 316 Posts
    • 161 Thanks
    Lilla D
    • #4
    • 17th Jul 17, 9:57 PM
    • #4
    • 17th Jul 17, 9:57 PM
    It's not MAB giving you higher interest rates, it's the lenders who can accept your boyfriend's credit history. MAB are brokers, who match clients to suitable lenders, like any other broker. If you don't like/trust the broker you are with, which is why you're seeking advice here, then just look for another one.

    On a separate note, Thrugelmir is right, you can't appeal a decline decision if you don't meet credit history criteria. Sometimes brokers can get an exception, but it is an upfront agreement via the broker's contact at the lender, not an afterthought. If you wait long enough for your partner's credit history to be acceptable for Santander, then it won't be an appeal, but a brand new application.

    Don't fall into the trap of applying for the cheapest deal or via your bank. If you want to get a mortgage with a bad credit history, you're best placed to do it via a broker (MAB or otherwise), especially if you are FTBs and have little knowledge about the process and potential pitfalls.
    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.
    • tashytashytashy
    • By tashytashytashy 18th Jul 17, 3:19 PM
    • 4 Posts
    • 1 Thanks
    tashytashytashy
    • #5
    • 18th Jul 17, 3:19 PM
    • #5
    • 18th Jul 17, 3:19 PM
    Thank you for the replies.

    The ccj was £459.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

140Posts Today

1,998Users online

Martin's Twitter