Mortgage advice about A.I.P

smithy1980_2

Hi just been speaking with our mortgage broker and he has said that we have a A.I.P already set in place for our new mortgage.
Here is how it goes
both have a joint income of 42000
Had a mortgage for 4 years now just sold house
looking for a new house and seen one will have a 15% deposit from sale off house
My gf has an excellent credit rating
Me on the other hand don't,I have a 4000 overdraft plus an unsecured loan not missed any payments just late with a couple.
we have a joint account and plus both have own accounts which pay goes into and just transfer in to joint account to pay bills etc...
we have been told to hand statements so wld joint account statements do?
So was wonder if the A.I.P is a true account of what we cld get?
it also appears that mortgage adviser does his own checks on us first before he goes and gets a deal.
So was wondering if this mortgage A.I.P wld be alright if we went ahead with it and put a bid on a house just hoping it does not come back rejected due to my credit rating
any advice on this guys?

coupe_2

Good luck Im in the same boat as you, partner has excellent credit, mine isnt so good, but just been turned down by Nationwide for mortgage and they are the only lender we can use that will accept gifted deposit for mortgage so were screwed!!!

Mrs_Bumble

coupe wrote: »

Good luck Im in the same boat as you, partner has excellent credit, mine isnt so good, but just been turned down by Nationwide for mortgage and they are the only lender we can use that will accept gifted deposit for mortgage so were screwed!!!

Nationwide don't like any iffy credit history. What sort of gifted deposit?

Mrs_Bumble

smithy1980 wrote: »

Hi just been speaking with our mortgage broker and he has said that we have a A.I.P already set in place for our new mortgage.
Here is how it goes
both have a joint income of 42000
Had a mortgage for 4 years now just sold house
looking for a new house and seen one will have a 15% deposit from sale off house
My gf has an excellent credit rating
Me on the other hand don't,I have a 4000 overdraft plus an unsecured loan not missed any payments just late with a couple.
we have a joint account and plus both have own accounts which pay goes into and just transfer in to joint account to pay bills etc...
we have been told to hand statements so wld joint account statements do?
So was wonder if the A.I.P is a true account of what we cld get?
it also appears that mortgage adviser does his own checks on us first before he goes and gets a deal.
So was wondering if this mortgage A.I.P wld be alright if we went ahead with it and put a bid on a house just hoping it does not come back rejected due to my credit rating
any advice on this guys?

Who is the AIP with? Did the broker know that there were a few late payments showing on the credit file?

smithy1980_2

I think they would be alright as I was only like a couple of days late and think that if I was over a certain aount of days it will go down on my credit file, The A.I.P is with the abbey does this make a diffrence like? thanks for the info the more the better cheers