Mortgage Credit Score Help

Conrad

Maybe try Abbey or Halifax. They usualy ignore OD info in my experience. Pointless debating this - in the end you will ONLY find out by applying. A computer alogrythmn cannot be predicted - there are litteraly billions of permutations.

I do not understand the significance of a 23 year term? Why is this 'silly'? If I were you I'd apply for as long a term as possible, up to age 65, as this REDUCES stress on affordability FROM A LENDERS VIEW POINT.

All the best

DVardysShadow

stablemaverick wrote: »

Thrugelmir, if you do not have any guidance to provide on what the plausible options might be then please refrain yourself from replying to my posts.

Others out there in a similar situation, might find this thread helpful, and trolling it, this will not provide any help to anyone in the long term.

Thrugelmir is a respected poster here and does not troll.

If you ask a question on these forums, you don't have to take your medicine. But it is bad manners to spit it out.

Thrugelmir has in shortform exposed the issues which blight your application. Now, you may think you have a surplus of 1500 each month - indeed you might really have this surplus, but the way you run your finances tells a very different story. All Thrugelmir is telling you is that your finances are telling the wrong story and to put that right.

Nothing to complain about here.

stablemaverick

Thanks Conrad,

I agree with your point on a 23 year term, originally had been told by the Mortagge manager that if we applied for a longer term then this would pressure other risk signals, so we decided to reduce this accordingly.

The issue is not at all the affordability, our income is £1500 greater than all our outgoings, including our unsecured borrowing which will be paid off in 2 years.

Anyways, i'll let you know how it goes.

Thanks

Oxid8uk

stablemaverick wrote: »

Thrugelmir, if you do not have any guidance to provide on what the plausible options might be then please refrain yourself from replying to my posts.

Others out there in a similar situation, might find this thread helpful, and trolling it, this will not provide any help to anyone in the long term.

I don't think Thrugelmir was 'trolling' your thread, I think they were merely pointing out that the lenders may be concerned that even though you have a combine income of £70k your gf still uses her OD, and hence looks like you are already spending beyond your means. To a lender that would ring alarm bells and therefore is probably why you have been declined.

stablemaverick

DVardysShadow wrote: »

Thrugelmir is a respected poster here and does not troll.

If you ask a question on these forums, you don't have to take your medicine. But it is bad manners to spit it out.

Thrugelmir has in shortform exposed the issues which blight your application. Now, you may think you have a surplus of 1500 each month - indeed you might really have this surplus, but the way you run your finances tells a very different story. All Thrugelmir is telling you is that your finances are telling the wrong story and to put that right.

Nothing to complain about here.

Good for him! My point was not to 'spit' out the 'medicine' but propose that i'm fully aware of my finances, and didn't need that pointing out, but, for someone to provide a little insight into other lenders criteria.

DVardysShadow

stablemaverick wrote: »

Good for him! My point was not to 'spit' out the 'medicine' but propose that i'm fully aware of my finances, and didn't need that pointing out, but, for someone to provide a little insight into other lenders criteria.

Why bust your head looking for other lenders who will in all probability have the same issues when there are some very obvious and simple things you can do? To continue the medicine analogy, this is like you going to the doctor, demanding pills and being upset at being told to eat fresh fruit and veg instead.

Thrugelmir

stablemaverick wrote: »

Others out there in a similar situation, might find this thread helpful,

I would hope so to. After many many years in the world of finance. I've seen and heard it all so many times before.

KingElvis

Don't post in Mortgages often but I can tell you this, banks view constant use of an overdraft as VERY poor money management so I'm not at all suprised they declined you.

You've been offered some good advice when I read throught the thread.