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Do we need a sub-prime mortgage?
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What monthly committments would remain when this mortgage goes through?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. Take advice with a pinch of sea salt!0 -
Yes that was with 55k joint income minus £350 per month outgoings, using 30k as deposit.
She also said using the whole 40k deposit would make no difference
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Monthly commitments remaining would be £350 per mth. (Plus other half's exising mortgage which is covered by the rent but we didn't even get to that).0
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does on eof youo earn over £35K?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. Take advice with a pinch of sea salt!0 -
Well you could try Accord mortgages, but they only offer 90% products through certain mortgage networks and I do not know the list of them.
Abbey *may* be worth a pop as they sometimes dont mind smaller defaults, same with Bristol & West. I dont get why Chelsea wont look at it....its not totally accurate but my system comes back that you would be within thier affordability....unless its different for broker / direct.
Skipton are a possibility too, gimme a sec and i will run retails in thier affordability calc
**Sipton Would lend up to £230k on a high credit pass. You wouldnt get a high credit pass, but its worth a shot....if everything else stacks up they consider defaults up to £2k**
Theres obvisouly a lot of options there....you dont want to be going and getting searches done left right and cetnre, so calling them to discuss first is the best way to go. You might want to consider going to see a broker to do this work for you.0 -
Another vote for trying Abbey.0
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No we earn 30k and 25.5k respectively.
What about Yorkshire? They would lend enough but she wasn't giving anything away about the default unless we apply.0 -
Actually I think Yorkshire will only do 75% LTV.0
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Aother vote for Abbey here as well. but it would be referred I think. They are as flexible as Chelsea.
I think Accord has a policy of no defaults in the last 3 years on prime.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. Take advice with a pinch of sea salt!0 -
Currently on the phone to Abbey trying to find out if the default would be a major issue.
Would it be with Skipton the do you think?
Ah..Abbey would only consider it with a 25% deposit.0
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