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FTB Mortgage help
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andywill81
Posts: 1 Newbie
Any advice would be greatly appreciated.
I went to the cheltenham & gloucester yesterday for a mortgage. I was after £110000 mortgage with a 10% deposit.
I was shocked to find that when they credit checked me that I failed. When they had look into it. I had 1 missed payment on a hire purchase aggrement from may 2005 which was paid within a couple of days of being misssed and the whole thing was paid off over 3 years ago. I also had 1 missed payment on a credit card from nearly 2 years ago which was paid off instantly.
I currently have no debts and earn 32k a year. Chelt & glouc said they are going to send the application off and appeal the rejection.
I was just wondering does appealing a rejected application ever come to anything good or is it a waste of time and are the cheltenham & gloucester just really strict in who they lend to or is my credit history that bad that no bank will lend to me.
Sorry to waffle on a bit....
I went to the cheltenham & gloucester yesterday for a mortgage. I was after £110000 mortgage with a 10% deposit.
I was shocked to find that when they credit checked me that I failed. When they had look into it. I had 1 missed payment on a hire purchase aggrement from may 2005 which was paid within a couple of days of being misssed and the whole thing was paid off over 3 years ago. I also had 1 missed payment on a credit card from nearly 2 years ago which was paid off instantly.
I currently have no debts and earn 32k a year. Chelt & glouc said they are going to send the application off and appeal the rejection.
I was just wondering does appealing a rejected application ever come to anything good or is it a waste of time and are the cheltenham & gloucester just really strict in who they lend to or is my credit history that bad that no bank will lend to me.
Sorry to waffle on a bit....
0
Comments
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Wait and see what the underwriters say. If it is rejected, go and see a mortgage adviser who will help you through the process.0
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