Mortgage Advice. Navy Personelle. No fixed address.

jen007

Hi guys,
Sorry for this being my first post!


Well my boyfriend is looking to buy our first house. I have a poor credit background, so have agreed that he would apply and I would be named in the deeds.

The thing we're currently finding hard is he technically has no fixed address.
He lives on a Naval base at accomodation cabins which have no post boxes. His mail is sent c/o the bases mail office but we recently changed this so that bank correspondence is sent to my address.

He is on the electoral role at an address located at the base, but has had 3 different base addresses (one in Scotland, two in England) in the past 4/5 years. He's never actually lived in his own accomodation for this time.

He's applied to his own bank LLoyds - he did get a mortgage in principal of just over £100,000 back in December, however this has disappeared off the system now that we actually have found a property - and to HBoS -Who offered us 65% loan, 35% deposit. We suspect this is due to the fact he is not a customer there-

We have a 20% - 25% deposit. His credit rating is above average (although he has no overdraft, credit cards ect) and due to the nature of his job is well paid. The only thing that seems to be affecting things is the fact he has no fixed address to actually finalise a mortgage.
First time buyers also.

Would it be worth us going in together even though I have 1 default and 3 missed payments? But because I've had the same address for the last 4 years, would this sway the address factor and his good credit sway my poor credit?
I'm also a student, currently in receipt of a student loan and graduate in June. (a job is very likely once I graduate, however a bank may not see it like this) Would this affect it, if we did go in together.

Any other Navy/Armed forces folk out there who lived on base know a way round it?

ACG

HBoS and LLoyds are the same company.

Before making anymore applications check it with the lenders. Ive never had this situation for any of my clients - maybe a more experienced advisor can help more. But before applying you need to make sure that they wont decline this outright otherwise your doing more harm than good.

If Lloyds accepted you in the past can you not go back to them?

jen007

We have went back to LLoyds today, only to find that the previous 'promise' is no longer on the system. They weren't able to make another promise because of the address problems.
At one point his address was a submarine. (A PF address I think it's called...)

My partner got this promise from a branch in Cambridge during a trip to his hometown to visit family (the advisor knew the property would be in Scotland), but we live in Scotland and have used a Scottish branch this time round.

We realise HBos and Lloyds are the same company, and came away with a promise from HBoS but not what we were looking for.

Simon_gloster

If you go thru lloyds and have anything but a royal mail address, they score it on an older system which allows foreign addresses. It wouls automatically go to underwriting. A hard footprint is done at point of sale and u/w will do another to see the credit profiles.

If halifax said yes, but they are not what your looking for, maybe you havent got the ability to choose in the market.