Just About to Apply, UNTIL!!!!!

opinions4u

michael1983l wrote: »

But the market we are aiming at, the lower end is booming. I don't expect you to understand that if you are not currently looking for one of these properties. But everytime we find one by the time we are ready to bid it has already sold. What more of an indication can I get.

There can be pockets of activity that don't reflect the national picture.

Which part of the country are you buying in?

michael1983l

opinions4u wrote: »

There can be pockets of activity that don't reflect the national picture.

Which part of the country are you buying in?

South bedforshire

Conrad

Michael - South Beds you say. I explored the possibility of Luton for a buy to let but even the agents were saying there is a way to fall yet.

Luton and other similar areas such as Dunstable have a a higher proportion of unmortgageable people as there is a higher than average adverse credit profile for the area.

Most of these people cannot get mortgages now. Eevn the sub prime lenders trun most cases away, if not for adverse credit per see, then for not being in employment

Conrad

Michael - South Beds you say. I explored the possibility of Luton for a buy to let but even the agents were saying there is a way to fall yet.

Luton and other similar areas such as Dunstable have a a higher proportion of unmortgageable people as there is a higher than average adverse credit profile for the area.

Most of these people cannot get mortgages now. Eevn the sub prime lenders turn most cases away, if not for adverse credit per see, then for not being in employment long enough etc etc etc.

As such I think the prices there have another 10% to drop.

As for A & L removing the adverse credit, I hear this all the time from prospective clients. Few clients ever suceed in getting it removed and almost all claim it wasn't thier fault, but lenders often have a different take on event. Not saying you are at fault, but as long as you understand removing adverse credit is a case of you unequivocally being able to prove it was not your fault.

The most common line I hear is 'it was the Banks fault, there were insufficient funds in the account, they should have warned me' - errr, no, it's our own responsibility to conduct our accounts in an orderly manner.

michael1983l

Its not Luton its closer to Milton Keynes.


As for the banks fault, well they wouldn't have removed it if it was my fault would they?

It has been requested to be removed today.

dunstonh

That takes 20 days to do according to the Co-op with who we are approaching for a mortgage, in which time the house will be long gone.

Try a mortgage broker and you should get a quicker turnaround. Like today.

An agreement in principle isnt worth anything and as long as you can back up what you say then there should be no problem getting what you need today or tomorrow. AIP/DIPs are all subject to what you say being verified. For the basis of what you need it for, why not get one from A&L?