We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Declined mortgage - When is it safe to try again?
firsttimebaby
Posts: 17 Forumite
Hello,
Me and my partner were advised by a financial advisor to apply jointly for a mortgage.... DECLINED! He doesnt have 3 years books and has £3000 debt, with 3 late repayments. I however have no debt, a good credit rating with one old late repayment.
As we have been declined jointly - should I try on my own, with the black mortgage mark on my record - or should I wait until this credit search doesn't matter (When is that!?):o
Me and my partner were advised by a financial advisor to apply jointly for a mortgage.... DECLINED! He doesnt have 3 years books and has £3000 debt, with 3 late repayments. I however have no debt, a good credit rating with one old late repayment.
As we have been declined jointly - should I try on my own, with the black mortgage mark on my record - or should I wait until this credit search doesn't matter (When is that!?):o
0
Comments
-
I am fully aware of the benefits of a joint mortgage - but I dont want to wait years trying to improve my partner's credit score, as we really do need to get a house!0
-
Straight away. There is no problem in trying again straight away. Can your income support a mortgage? The financial advisor should have seen that and advised you to apply on your own.:footie:
Regular savers earn 6% interest (HSBC, First Direct, M&S) Loans cost 2.9% per year (Nationwide) = FREE money. 0 -
Who were you declined with?I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Thank you,
Yep I was a little annoyed that the financial advisor kept pushing for my partner ( ideally that would be fantastic, as we are aware that people change etc), however if I had been more savvy I would have known that it would have been declined together.
It was with nationwide...0 -
Should I try again with the same, or a different lender?0
-
Nationwide are one of the stricter lenders.
Are you aware of what negative credit history your partner has or had?I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
firsttimebaby wrote: »Should I try again with the same, or a different lender?
Different lenders, and a savvy broker (many are dopes)0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.5K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.5K Work, Benefits & Business
- 601.4K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards