Refused for Former Sins :(

jmd4211

So is there a good chance that I won't be successful anywhere do you think?

Dave_Ham

In terms of highstreet lenders, Halifax are the most lenient. Santander and Natwest are not really lending at the moment. Nationwide are selective, as are First Direct and HSBC.

A local building society may prove a suitable alternative...

jmd4211

I bank with Natwest, would it not be worth talking to them?

Dave_Ham

If you bank with maybe, otherwise definitely not

jmd4211

I really appreciate your advice so far, and have one last question, then I'll leave you in peace.

My parents are quite comfortable in life, is there anyway that they can go on as a guarantor?

Dave_Ham

Yes, it could help although you can now both (you and 1 parent) could be on mortgage to boost credit score.

2 considerations are their own financial commitments and income and there age. If they are 65 for example, you may only get a 10 year term (max) and given the banks reluctance to lend in interest only you could find the repayments unaffordable...

Good luck

Conrad

Small regional Building Societies might be you best port of call. They take a more hands - on common sense approach unlike the large call centre production line lenders where staff have little lattitude.

Thrugelmir

jmd4211 wrote: »

Have submitted both of the reports to the C&G, I have had 2 credit cards, one of which has been paid off since January this year, though I had one month late payments in October and November of last year.

The default is September 2006, and the £40k is to pay off my student loan, a secured loan that has been perfectly maintained, and also to improve the place I am purchasing.

Highly possible the purpose of the equity withdrawl may be an issue for underwriters. Considering your recent payment history.

jmd4211

Appeal with C&G was rejected, so we've started applying with the Halifax, but have also written to the Chairman of C&G requesting a common sense review.

Will see what happens, but not too optimistic

Simon_gloster

jmd4211 wrote: »

Appeal with C&G was rejected, so we've started applying with the Halifax, but have also written to the Chairman of C&G requesting a common sense review.

Will see what happens, but not too optimistic

C&G dont have a chairman, their board is Lloyds Banking Group.

If the underwriters have declined the case, it's not going to be agreed in a short space of time through higher levels.

There is a lending policy in place so they can accept and decline whoever unfortunatley.

also if you are on their SVR (2.50%), they may want you off that.