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First Time buyer with debt and no deposit. HELP!
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if thats how much northern rock have calculated you can borrow then they won't budge on that. is that amount calculated on a 2 or three year fixed? if so, on the together products if you select the five year option they will increase how much they will lend you. Your advisor from AH should have told you all this, if they haven't ask them why. If you are looking for a maximum of 100% loan to value you you could always check out other lenders such as royal bank of scotland or co-op bank who are both currently very competitive. I woould urge you to make sure you fit their critieria before applying though as too many credit checks can damage your credit rating.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. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
well. We've given up for now as the two credit checks we've had done in applying for mortgages through AH that were then turned down will damage our credit rating if we do any more in a 6 month period. I guess we'll have to try and pay off the debts asap and then see what happens.Official Debt Free Wannabe Nerd Club member 095! Debt Now:
M&S £5000 £2071.49 - 3.9% |Cahoot Loan £8646.96 £7453.24 - 5.8%| Barclays OD £2250.00 £991.99 - 0% Halifax Card £1620.60 - 0% Savings: £927.59
Grand Total = £22,540 £11,209.73 :eek:Total paid off since 31st May '06 = £11,330.27 :T Semi-DFD Dec'07?
Savings for temporary unemployment fund: £763.05 @ 8%, £164.54@ 4% Total savings: £927.59
£18k Challenge £18,934.21 £11,209.73 to go!
Proud to be dealing with my debt.0 -
Yeah I suggest you live like monks for a year and try to whittle down that student debt.
A 100% mortgage is crazy, imo. A 120% together mortgage is loony bin material.
Still, that rent is high, so I can understand why you're keen to stop paying it.0 -
If both credit checks were for the same lender for the same purpose you may be able to get one removed. Check with the lender and credit reference agency.0
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Anyone know answer to my question above!!??0
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OMAR wrote:Anyone know answer to my question above!!??
Thats what all the brokers have told me.Official Debt Free Wannabe Nerd Club member 095! Debt Now:
M&S £5000 £2071.49 - 3.9% |Cahoot Loan £8646.96 £7453.24 - 5.8%| Barclays OD £2250.00 £991.99 - 0% Halifax Card £1620.60 - 0% Savings: £927.59
Grand Total = £22,540 £11,209.73 :eek:Total paid off since 31st May '06 = £11,330.27 :T Semi-DFD Dec'07?
Savings for temporary unemployment fund: £763.05 @ 8%, £164.54@ 4% Total savings: £927.59
£18k Challenge £18,934.21 £11,209.73 to go!
Proud to be dealing with my debt.0
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