Will I be approved? First time buyer

whatyadoinsucka

did you look at your own bank "HSBC" or read the comment i left you about a branch that has been issuing FTB mortgages throughout the downturn..

f1rsttimebuyer_2

Yes I did... HSBC declined me for a credit for a credit card 6 months ago though... So not too sure about going with them.

Yorkie1

If you're not creditworthy enough from your own bank for the relatively small amount of credit available on a card, do you seriously think a lender will consider you creditworthy enough to lend tens or hundreds of thousands of pounds?

As repeatedly advised on here, make an appointment with a whole of market broker. Disclose fully your circumstances and history. If you can't remember, get your credit report from a company such as experian - there's often a free trial if you cancel within the 30 days. The broker will do a full fact find and use their experience to let you know the good or bad news.

It is completely pointless for you to base your situation on others' situations, as each case is completely individual on its own facts.

f1rsttimebuyer_2

Only me again.

I can get 20k now, and want to buy at £75,000 property, so will have 74% LTV.

Do you think I'll manage to secure a mortgage given that I missed payments on my credit card a few years ago?

GMS

Go back to the start of the thread and follow the advice given then. Nothing has changed. Nobody can answer

f1rsttimebuyer_2

If I applied with post office for an AIP tonight, and you had to guess a percentage chance of acceptance, given all the info you know about me from the original post, with a 20k deposit looking for a 75k property, what percentage chance of acceptance would you give me... go on... take a guess. 20% chance? 60% chance..... ?

GMS

Are you sure you are sensible enough to take on a long term financial commitment. You seem to lack the basics of reading and understanding.

f1rsttimebuyer_2

Yes I am! What you guys don't seem to understand is that I just want an idea. You're all so serious and seem to think that I'm going to hunt you down and try and claim damages from you if you say you think I'll be approved and then I get declined.

I read these forums long and hard before starting this thread and read plenty of times about speaking to a broker, I'm just not ready at this moment in time to take that next step just yet.

Right now, I'm just wanting an idea. That's all I'm asking for.

There are so many mortgage brokers on here that are surely applying for First Time Buyers all the time. How hard can it be for someone to turn around and just say to me "I've not had any first time buyers get accepted in the current market that have missed credit card payments in the last couple of years" or "I had a client last week that had missed payments on credit card six months ago secure a 80% LTV mortgage with Halifax, so there's hope for you".

BadgerFace_2

f1rsttimebuyer,

I'm pretty sure you're just goading the Mortgage Advisers on here.

But I'm game for a guess- You will be rejected. I say this with 54% certainty, as judging from your posts, you're a plank...this must be reflected on your credit file.

GMS

f1rsttimebuyer wrote: »

Yes I am! What you guys don't seem to understand is that I just want an idea. You're all so serious and seem to think that I'm going to hunt you down and try and claim damages from you if you say you think I'll be approved and then I get declined.

I read these forums long and hard before starting this thread and read plenty of times about speaking to a broker, I'm just not ready at this moment in time to take that next step just yet.

Right now, I'm just wanting an idea. That's all I'm asking for.

There are so many mortgage brokers on here that are surely applying for First Time Buyers all the time. How hard can it be for someone to turn around and just say to me "I've not had any first time buyers get accepted in the current market that have missed credit card payments in the last couple of years" or "I had a client last week that had missed payments on credit card six months ago secure a 80% LTV mortgage with Halifax, so there's hope for you".

Every application is different so one that looks identical to another could have a different result.

As brokers we need to be sure anything taken as being advice is correct. In order to do this we need a factfind, not a few points from a forum.

If you are not ready to take the next step as you say then why apply for a DIP?

You clearly do not listen to anybody so go ahead and do what you feel necessary as only your answers will be sufficient for you.

You are starting to contradict yourself so please stop your wind up now.