AIP/First National

fivemice

We want to get our mortgage with first national (self employed, only two years accounts, first year was much lower than this year, not the best credit record).

Spoken to our mortgage broker who says the AIP is valid for 30 days? That's not very long... I seemed to think AIPs lasted for 3 months, am I wrong?

Also, First National want to put their rates up on 6th March. We can't apply until approximately 9th April. What are our chances of getting them to hold a rate for us?

herbiesjp

Each lender has different timescales for the validity of their for AIPs.

Two years accounts - why are you looking at First National?

Can you not look at high street lenders?

fivemice

Everyone we have asked have said no, and that we need 3 years accounts.

We earn £43k between us, will have one debt repayment of £136pcm (all other debts will be cleared by the end of March).

We're looking for a mortgage of no more than £136950. 100% though.

herbiesjp

There are lenders that will look at two years accounts.

However, it may be that you are not eligible for other reasons, but I would think they may be worth a look - which lenders have you asked?