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What are the chances of getting a Mortgage?
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We have one default between us and a 20% deposit, we have just been accepted.First baby due 3/3/14 - Team Yellow! Our little girl born 25/2/14
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We have one default between us and a 20% deposit, we have just been accepted.
How long ago was the default cleared and for how much?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 -
Who with? And what rate have you got?0
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They were 1500. Mortgage was with Accord, also got an offer from Abbey.First baby due 3/3/14 - Team Yellow! Our little girl born 25/2/14
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What rate did you get?0
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Accord decline the most straight forward decent cases so you were lucky. Be aware other readers that Accord are incredibly cautious and will want to see 3 months Bank ststements.
As for 90% with large defaults - no chance. Sure some smaller BS can consider, but at 90% they would have to be very small defaults and porbably at least 3 years old and the client will have had to have cleared the default quickly and not taken thier time over it. Small BS also need personal Bank statements. I've had a few adverse cases agreed by small BS at 85% ltv where the clients could clearly demonstrate they had the attitude and ability to pay the mortgage (ie, they cleared thier problems up within a few months and had been squeaky clean since).0 -
What rate did they get? Also when they ask for your bank statements what kind of things are they looking at?0
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Just bringing this up again as circumstances have changed now so we will either need to get a mortgage on a house of maybe £125,000 or we will have to start renting in Feb/March time.
Has the industry changed now so I'm able to get a mortgage or will we have to rent for 2 years?
Thanks in advance!0
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