going to see mortgage broker tommorrow

morgan78_2

Hiya just a quick one we are going to see Mortgage broker tommorrow my details are 4 years ago fell out of work and had defaults for me and my wife

all defaults were added 4 years ago all of them have been settled except 2

I have £70000 equity in my home and the house we have saw is £200000 i earn £43000 wife earns £11000 never missed a mortgage payment and apart from these 2 creditors have no other credit.

I have nearly enough saved to pay the one default and my parents have offered to settle the other one based on this what are my chances getting a mortgage

Thanks in advance

GMS

Based on thr limited information there should be options for you with 70k as a deposit.

Your broker will be able to tell you more.

Ask as many questions as you need to

morgan78_2

thanks gms is there any more information I need

GMS

No, just give the full story to the broker and see what they come up with.

Who is your current lender? Have you spoken to them?

morgan78_2

natwest but i thought with the defaults I have had and wife an high street klender wouldnt touch us

GMS

They may not do but it is worth a phone call to find out. As an existing customer they may try to assist. Equally they may not but worth asking the question.

Without knowing your circumstances it is impossible to say.

morgan78_2

but i thought that if i went to them and then they did a search and rejected me would it look bad on my credit report

GMS

Call them and explain the situation to them and ask if they would consider it. If they say no then there is no need for a search. Even if they search and say no it will not show as a rejection on the credit report, just an application. 1 should not make a big difference and if the rates are better with Natwest then it has got to be worth a try?

herbiesjp

Even if a high street lender will not help, there are lenders that will, and the rates are not that bad really.

So you should have options available to you.

Make sure you find out asap what the broker will be charging you.

kingstreet

I'd order my credit files from the three credit reference agencies before you do anything else. If you came to see me with your situation, that would be the first thing I'd ask you to do so I knew exactly what I was up against.

Order the £2 stat copies and you should have them back within a week.

morgan78_2

hiay got me credit reports appointment has been rearranged for tommorrow mortgage broker on the phone though sounds confident he can do something fingers crossed