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Not Perfect Credit - Which Mortgage
Options
grogsy
Posts: 131 Forumite
Need some advise. I fully intend to see a mortgage broker but am interested in your opinion also.
My credit file shows 2 defaults which have both been settled. They are dated 2005 and 2007. the total amount for these 2 defaults are around 6k.
I have perfect credit for 18 month with a few late payments on a mobile phone contract prior to that.
I have 10-15% deposit available for a purchase. I have a decent job which is secure (emergency services) and I earn around 35K with p60's to prove.
What lenders may be available to me? It has been suggested looking for a lender who credit references instead of scoring.
My credit file shows 2 defaults which have both been settled. They are dated 2005 and 2007. the total amount for these 2 defaults are around 6k.
I have perfect credit for 18 month with a few late payments on a mobile phone contract prior to that.
I have 10-15% deposit available for a purchase. I have a decent job which is secure (emergency services) and I earn around 35K with p60's to prove.
What lenders may be available to me? It has been suggested looking for a lender who credit references instead of scoring.
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Comments
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i imagine none as they are being so picky..you need a exemplary credit file..when do the defaults fall off your file..It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
You'll need a bigger deposit. 20-25%
10-15% with a clean credit history is a struggle.0 -
There could be a lender at 85% LTV for you.
Speak to a whole of market brokerI am a Mortgage AdviserYou 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 -
Thanks to an exclusive product launched today from a broker only lender, there might well be a 90% product for you.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 -
You would need to speak to a broker to see if you are eligible for it.I am a Mortgage AdviserYou 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
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Any chance of a heads up as to what it is or who it is with? PM is fine0
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It is a broker only lender so you could not approach directly.
I would not like to say who it is as I have no idea if you are eligible for the product.
How much do you want to borrow?
Any credit commitments?
Any children?
Plenty of things to take into account, not just a case of the lender is .....I am a Mortgage AdviserYou 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 -
Catie, as a new poster on her I am unable to pm more than once per hour.0
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Er...not sure if that's breaking forum rules?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
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