mortgage declined credit not great help!

amyneedshelp

trying to get a 90% deal been declined by hsbc, c and g and natwest said wouldn't meet criteria. It is for me and my boyfriend i earn 19k he earns 32k but i have a fairly poor credit rating know of a default with mobile phone co settled in march 08 my dad said he would act as a guarantor if we needed help can anyone advise who we could apply to?

_Andy_

A guarantor won't help as it won't change the credit history side of things - a guarantor is only of use to support the income.
At 90% you will need a very clear credit history.

amyneedshelp

so i guess there's no point in applying to either first active or direct line then?

_Andy_

If the lenders above have declined you then no. Also if you keep applying for lending products it is going to damage your credit score more.

herbiesjp

Have you got an up to date copy of your credit file?

STOP applying to lenders - that will cause you more problems

How much is the default for?

Is that the only blemish, or are there other things on there?

What is the purchase price? Can he buy on his own?

If not, can he buy with your dad?

sruben

I don't have a great credit history either, however I was given an agreement in principle with the Halifax but had to put at least 15% deposit down and my rate is 6.44%. Maybe try and save for a little while if possible.

amyneedshelp

the default is only bad thing i've not missed any payments on my credit card and when i had a loan that was always paid on time too. On my experian file i'm fair on credit with everything satisfactory except the default purchase price is 149,950 we want mortgage for roughly 135 could my boyfriend do a joint app with my dad?

mortgage-adviser-now

Stop trying to sort this direct with the Lenders.

Pay for some proper help and advice form a Whole of Market Mortgage Adviser before you make your credit record 100% worse than it is now.

herbiesjp

amyneedshelp wrote: »

the default is only bad thing i've not missed any payments on my credit card and when i had a loan that was always paid on time too. On my experian file i'm fair on credit with everything satisfactory except the default purchase price is 149,950 we want mortgage for roughly 135 could my boyfriend do a joint app with my dad?

How much was the default for though?

That will be important if you are looking to go on the mortgage

In theory yes, your dad and BF could get the mortgage together

But it would need to be looked at closely, to make sure this is indeed a definite option.

Discuss with a true whole of market adviser, and let them make the necessary calls to lenders WITHOUT carrying out any credit checks

sinead1_2

amyneedshelp wrote: »

trying to get a 90% deal been declined by hsbc, c and g and natwest said wouldn't meet criteria. It is for me and my boyfriend i earn 19k he earns 32k but i have a fairly poor credit rating know of a default with mobile phone co settled in march 08 my dad said he would act as a guarantor if we needed help can anyone advise who we could apply to?

Try your credit union, they tend to look at affordability rather than credit rating. hope this helps, i'm in the same position & awaiting word from my credit union!

Darlinbud

sinead1 wrote: »

Try your credit union, they tend to look at affordability rather than credit rating. hope this helps, i'm in the same position & awaiting word from my credit union!

What is a credit union? never heard of this and am simular position....