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
    • alwaysup
    • By alwaysup 18th Sep 17, 4:55 PM
    • 7Posts
    • 0Thanks
    alwaysup
    Masthaven Bank Mortgages
    • #1
    • 18th Sep 17, 4:55 PM
    Masthaven Bank Mortgages 18th Sep 17 at 4:55 PM
    Hi,

    We applied for bad credit mortgage with masthaven 80% LTV. DIP approved. Waiting for the full application to be processed by the underwriters. All the docs have been provided to them by our broker i.e payslips etc.

    Anyone used them before for the mortgage? any experience? how long would they take. Whats the chances are getting Mortgage offer? Me and my mrs has a small default over 5 years old and mrs has one ccj which is 5 years and 7 months old. we are not the first time buyer. Moving home selling current property.

    Any help would be appreciated. Thanks
Page 1
    • alwaysup
    • By alwaysup 18th Sep 17, 4:57 PM
    • 7 Posts
    • 0 Thanks
    alwaysup
    • #2
    • 18th Sep 17, 4:57 PM
    • #2
    • 18th Sep 17, 4:57 PM
    Full application was submitted a week ago. We have never ever missed a single payment on anything in the past 6 years (only the small default and a ccj which is almost 6 years old).
    • ACG
    • By ACG 18th Sep 17, 5:16 PM
    • 15,505 Posts
    • 7,857 Thanks
    ACG
    • #3
    • 18th Sep 17, 5:16 PM
    • #3
    • 18th Sep 17, 5:16 PM
    It seems overkill to use Masthaven, I am sure you will be fine.

    I have used them once, the underwriters came back the same day. It was all offered within 3-4 days, subject to valuation - it only took so long as we had to get extra paperwork for something.

    I was quite impressed with them.
    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.
    • alwaysup
    • By alwaysup 18th Sep 17, 6:00 PM
    • 7 Posts
    • 0 Thanks
    alwaysup
    • #4
    • 18th Sep 17, 6:00 PM
    • #4
    • 18th Sep 17, 6:00 PM
    It seems overkill to use Masthaven, I am sure you will be fine.

    I have used them once, the underwriters came back the same day. It was all offered within 3-4 days, subject to valuation - it only took so long as we had to get extra paperwork for something.

    I was quite impressed with them.
    Originally posted by ACG
    Thank you. Finger crossed.
    • Stoneyman80
    • By Stoneyman80 20th Sep 17, 7:42 PM
    • 6 Posts
    • 0 Thanks
    Stoneyman80
    • #5
    • 20th Sep 17, 7:42 PM
    Update?
    • #5
    • 20th Sep 17, 7:42 PM
    Hi. We have also submitted full applucation today.

    Did you get an update at all?
    • alwaysup
    • By alwaysup 21st Sep 17, 1:54 PM
    • 7 Posts
    • 0 Thanks
    alwaysup
    • #6
    • 21st Sep 17, 1:54 PM
    • #6
    • 21st Sep 17, 1:54 PM
    Hi, Yes they came back with couple of questions, I replied. Now waiting for them to get back to my broker. Their turn around time is pretty impressive though.
    Last edited by alwaysup; 21-09-2017 at 1:57 PM.
    • Stoneyman80
    • By Stoneyman80 21st Sep 17, 8:15 PM
    • 6 Posts
    • 0 Thanks
    Stoneyman80
    • #7
    • 21st Sep 17, 8:15 PM
    • #7
    • 21st Sep 17, 8:15 PM
    We had the questions as well and sent back yesterday afternoon.
    I totally agree that their turn around is very good.

    Fingers crossed for you.
    • alwaysup
    • By alwaysup 22nd Sep 17, 1:10 PM
    • 7 Posts
    • 0 Thanks
    alwaysup
    • #8
    • 22nd Sep 17, 1:10 PM
    • #8
    • 22nd Sep 17, 1:10 PM
    Thank you #Stoneyman80. Same for you too.
    • Stoneyman80
    • By Stoneyman80 23rd Sep 17, 8:35 PM
    • 6 Posts
    • 0 Thanks
    Stoneyman80
    • #9
    • 23rd Sep 17, 8:35 PM
    • #9
    • 23rd Sep 17, 8:35 PM
    Hi.
    Have you had any update as yet?
    • alwaysup
    • By alwaysup 24th Sep 17, 5:56 PM
    • 7 Posts
    • 0 Thanks
    alwaysup
    Hi, Not yet. Have you had any response?
    • Stoneyman80
    • By Stoneyman80 24th Sep 17, 7:33 PM
    • 6 Posts
    • 0 Thanks
    Stoneyman80
    We had a second wave of questions regarding some items on our bank statements which were quickly replied too and sent back late Friday.
    Hoping to hear about the valuation this week if everything is ok.
    • Stoneyman80
    • By Stoneyman80 27th Sep 17, 12:51 PM
    • 6 Posts
    • 0 Thanks
    Stoneyman80
    Any luck? apparently ours is in final checks.
    • alwaysup
    • By alwaysup 6th Oct 17, 11:48 PM
    • 7 Posts
    • 0 Thanks
    alwaysup
    Unfortunately ours been declined. No reason is given which is frustrating.! Do we not have the right to get the exact reason?
    • Stoneyman80
    • By Stoneyman80 7th Oct 17, 7:13 PM
    • 6 Posts
    • 0 Thanks
    Stoneyman80
    Hi,
    The broker that you used should be able to tell you the what part of the criteria you did not meet.
    Our broker has kept us informed all the way through.

    Did yours get to valuation stage of was it declined on initial application?
    • YHM
    • By YHM 7th Oct 17, 7:23 PM
    • 124 Posts
    • 42 Thanks
    YHM
    As mentioned above, your credit issues seem nominal, unless there is another skeleton hiding??

    Has your broker considered a mainstream lender that wouldn't tear your application to pieces?
    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
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

3,358Posts Today

7,091Users online

Martin's Twitter
  • RT @LordsEconCom: On Tuesday Martin Lewis, Hannah Morrish & Shakira Martin gave evidence to the Cttee. Read the full transcript here: https?

  • Ta ta for now. Half term's starting, so I'm exchanging my MoneySavingExpert hat for one that says Daddy in big letters. See you in a week.

  • RT @thismorning: Can @MartinSLewis' deals save YOU cash? ???? https://t.co/igbHCwzeiN

  • Follow Martin