Urgent Help Needed For First Time Buyer!!!???

mark1982_2

Hello all,

I have applied for a Mortgage, as a first time buyer, for the first time with Nationwide however this has been rejected due to my poor credit history.

I am 24, full/permanent employment as a police officer (Gross £24,500) 3 years in the job. I have always had/been in employment with good pay.

My partner, again police officer 24 years, (Gross 21,500), excellent credit history! A 'perfect person' so to speak.

The problem - I think - is with me!

I had an EGG Credit Card that I did not pay for 5 months due to a dispute with them. I have since (12 Months ago) paid the balance and no longer have any credit cards (my choice). This did not result in a CCJ!!!!!

The last one was a Vodafone contract phone, which was not paid for 3 months as I disputed the bill due to extreme call costs from Dubai. Paid in full 2 years ago - 5 months later!.

These are the only things I have ever had 'bad credit' over. I have never had a CCJ or anything similar - all have been dealt with 'in house'.

Anyway,

We have no other outgoings, and a £6,500 deposit. The house is £130,000, this has all been agreed and a deal has been agreed.

What I need is a mortgage with 3 years fixed, paying a deposit of £6,500.

Who can lend me this money - I am worried that I will not get a mortgage with a competitive rate? Is this the case?

We both pay into a pension that’s worth 11% of our wage and a lot after 20 years!

Is my credit really this bad?

Any/All help will be greatly appreciated,

Many thanks,

Mark

Wickedkitten

They don't just look whether you have a CCJ or not, they also look to see if you've been paying your bills regularly, which you haven't.


Can your partner get the mortgage on her own and then add you on later?

homer_j_3

You should order a copy of your credit file. You can do this from equifax or experian. Google under co.uk websites.

This should give you good insight. To be fair, I think you already know what the problems will be but you are better checking to see.

If you disputed the bill, did egg and vodafone admit that they made an error and agree to resolve the situation? I would contact them both and try to get these removed. If they did not admit fault then you will need to find a prime lender that may not be so strict.

mark1982_2

Thanks,

No not really - we want to do it all together!

I am sure there must be some lenders that look at the wider picture?

I know it no excuse but i was young - and silly at the same time! 2 mistakes can be quite costley!

homer_j_3

now about my potential speeding ticket.....

homer_j_3

mark1982 wrote:

Thanks,

No not really - we want to do it all together!

I am sure there must be some lenders that look at the wider picture?

I know it no excuse but i was young - and silly at the same time! 2 mistakes can be quite costley!

Go and speak to a whole of market broker as they will know which lenders are most likely to accept you. too many applications can also go against you.

mark1982_2

I have already obtained a copy of my report - it does not look that bad, but missed/disputed costs are 'costly'.

I spoke to them and they informec me that the matter was dealt with and is now closed!

There must be someone with some faith in me! Its only going to be 40% of our annual income!

All help is appreciated!

Many thanks,

Mark

mark1982_2

homer_j!

Now then ............ i am actually a Traffic Officer, you were going far too fast! Plus i have already started writing the ticket!

You scratch my back i will scratch yours!! lol!

Its all good fun!

If only it was that simple ........................

Murtle

The abbey national were very good when I was looking. Have a look at a mortgage compaison site and contact the ones with the best rates. Speak to them up front about the disputed payments advising that they didn't end in CCJ's. If still having problems speak to a reputable broker.

Good luck, you shouldn't have a problem getting a decent mortgage although Nationwide may not like the idea of a 95% mortgage, so you need to be clear that is what you are looking for!

homer_j_3

mark1982 wrote:

homer_j!

Now then ............ i am actually a Traffic Officer, you were going far too fast! Plus i have already started writing the ticket!

You scratch my back i will scratch yours!! lol!

Its all good fun!

If only it was that simple ........................

Was it you in one of those pesky video vans. Im not sure whether I have been caught but time will tell no doubt.

Fairly stupid of me really especially as the 21st of May will be the 5th anniversary of my last ticket and was really looking forward not having to disclose on my insurance...

I do admire your job and have always fancied a job like that, albeit the messes you have to sort out must be a really bad side to the job.

Seriously, get yourself to a local broker to let them go through everything with you. If you in the lancashire or north yorkshire constabulary, I may be able to point you in the right direction..