Chelsea Bank-Any good??

pink123_2

Hi everyone, :j

I am relatively new to the site (fab site!)and this is my first post. I am in a middle of a chain (selling flat and had an offer accepted on a house) at the moment. I have decided to go with Chelsea Bank for the mortgage (2 fixed 5.39%) and submitted the application form yesterday. The mortgage advisor said that we could get what we are asking for £202,350 based on our income however I am scared that when the mortgage offer will come through it will be less or even worse, not get an offer at all and thus ending up with no house! This is due to a very bad experience a year ago with GMAC. I am really worried the same will hapen again? I would love to hear from anyone with similar experience, good or bad.

SteveCat

Never had that problem but then I always have belief in the people I use to set up mortgages. It sounds to me you do not have faith in yours, however if he's told you that is what to expect based on your income i wouldn't worry. They have guidelines from lenders to go on and they are usually spot on or is there something else which could affect the offer you are not revealing?

pink123_2

thanks for the reply, yes I found out that i have a satisfied default for £112 from Three (mobile phone) when I checked my credit file!!! I have writen to them and to experian which they have now put a notice of correction on my file. However, this default really concers me and I told the mortgage advisor about it so they did a credit check before my application and they said that they did not pick it up even though they use experian. I am really annoyed because what happened is I cancelled my phone contract 18 months ago but they woulnt cancell the contract so I refused to pay them!! I have sent FIVE cancellation letters (which Three have now finally admited that they have a record of) at the time but they still would not cancell my phone contract, they are awful! When I spoke to someone at Three recently they admitted they were in the wrong and that they will sort out the credit reference but they still havent so experian are now involved. Sorry for going on but it really fustrates me!!!:mad: This is also why I am worried that I will not get a mortgage even though morgage advisor has reassured me.

Robert_Sterling

pink123 wrote:

Hi everyone, :j I have decided to go with Chelsea Bank

Is the bank related in any way to the Chelsea Building Society?

pink123_2

Sorry, not up to scratch with the lingo!! Yes, it is Chelsea Building Society.