Mortgage Hell !!! - Advice Required

aj9648

I could not see anything on mine to do with Adelphi - but my friend said he might have smething

What is adelphi?

herbiesjp

aj9648 wrote:

I could not see anything on mine to do with Adelphi - but my friend said he might have smething

What is adelphi?

No idea - it may be the name of a finance/credit company that your friend has had dealings with.

It could range from secured loans, to mobile phone contracts

Let us know if there is an Adelphi entry on the credit report, and what it says by that entry

toonfish

size of deposit would be the biggest concern for most lenders as stated, probably combined with a low credit score. If you can get 5% deposit many more avenues will be open to you.

aj9648

Just a little off subject - but can anyone recommend a 97% LTV mortgage?

Thanks

herbiesjp

aj9648 wrote:

Just a little off subject - but can anyone recommend a 97% LTV mortgage?

Thanks

Not without knowing your circumstances.

The credit history should be investigated first, before applying to any more lenders.

The more credit checks run against your name, the more harm you could be doing to you dredit file and chances of getting a decent mortgage

HTH

toonfish

aj9648 wrote:

Just a little off subject - but can anyone recommend a 97% LTV mortgage?

Thanks

there are a lot that will do 97%+ - Halifax, Abbey, Coventry, Northern Rock, First National, Royal Bank of Scotland, Portman - impossible to recommend a specific "best" deal as it depends on income, property, credit score etc.

Rick62

aj9648 wrote:

When I spoke to Nationwide, they also mentioned something about a Delphi Risk Information. I have no idea what this is and they were vague about it. But basically they said we were hgh risk on this account too.

Delphi is a scoring system from Experian, this link gives information on their business Delphi, no doubt their residential is similar, http://www.experianbi.co.uk/downloads/Comm_Delphi_Suite_of_Scorecards.pdf , basically it is looking at your whole lifestyle, so in addition to your credit record it looks at things like your change of addresses, your job history etc etc to give you a risk score. One thing to check is if you are on the electoral registar at your current address.

regularsaver1

aj9648 wrote:

Just rang nationwide and not that helpful to be honest!!! She said our LTV was too high - and we needed a higher deposit - I though 5% would have been enough !!!

We have been over commited on Credit - I know that our total credit we owe is around £2500 so I did not see that as an issue.............

So no idea what is wrong with us !!!!!

why did you say in this post that you had 5% deposit?

I just looked up Delphi Risk on Google - and it was all on about risk profiles and risk management, which a lender would have to do internally

TEDDYRUKSPIN

5% deposit required. No bank will touch you!

arnie&caseysma!

TEDDYRUKSPIN wrote:

5% deposit required. No bank will touch you!

Not true. There are many banks who will lend 95%, 97%, 100% and even up to 125%. In many cases you don't need to have a deposit at all.