Mortgage Advice

luckyfool

boggie40 - as I said in original post above, you will need a 25% deposit.

minimike2

BM dont have 80% adverse products....definately 25% deposit needed.

You may wish to consider MBS instead.

luckyfool

minimike2 wrote: »

BM dont have 80% adverse products....definately 25% deposit needed.

You may wish to consider MBS instead.

If MBS were charging 9.5% with a 25% deposit (as you mentioned earlier), I shudder to think what it would be with a 20% deposit!

On second thoughts I've had a look and MBS seem to offer 9.05% fixed for 3 yrs with a 20% deposit, and 8.75% with a 25% deposit assuming the bankruptcy was discharged within the last 12 months. The 9.5% rate mentioned earlier is for a heavier category of adverse which would not apply unless there is more serious adverse present than a bankruptcy discharged in the last 12 months.

minimike2

At that LTV Its either MBS or go to GE - and look at what thier rates & fees are!!

I cant think of anyone else that would do it off the top of my head (without bigger deposit). Hmm. I would just rent. lol.

luckyfool

minimike - GE have just restricted their absolute max loan even on clean Near Prime cases to 80% ltv and are charging extortionate 9%+ rates for those (in the unlikely event that they pass their credit score).

No chance in hell of them touching this without a much bigger deposit than 20%.

boggie40

I wonder if GE would penalise me more as they lost £14,000 to me cos of my bankruptcy !!! lol
sorry not funny, should not laugh but they did put me through hell b4 i went bankrupt.

luckyfool

boggie40 wrote: »

I wonder if GE would penalise me more as they lost £14,000 to me cos of my bankruptcy !!! lol
sorry not funny, should not laugh but they did put me through hell b4 i went bankrupt.

Boggie - GE do advise that they take into account the performance of any previous debts with them. In the unlikely event that you qualified for any of their products without a 30-40% deposit, the fact that they had to kiss goodbye to £14k which they lent you in the past is almost certain to mean they would decline a mortgage application from you.

minimike2

Yeah I just read the emails from FN and IG luckyfool.

No skin off mine really....only placed one case with them this year and that was only because they were the last resort.