Easy Lenders

hopper5

Hi All

First post here so apologies if this has already been covered.

I am looking to buy a flat but have a relatively low income (£16,000). The flat I want is only £56,000 and I have a £7,000 deposit plus the money for legals, etc. I have no bad credit history, just a low score (750 on credit expert). No missed payments or anything. What I would like to know is which mortgage lenders are the most leniant are most like to accept me for a mortgage.

Your advice would be much appreciated.

samtoby

Score on credit expert means nothing.

One site has mine at less than 500 one is up at 700 and something. Don't worry about that.

As long as you have no Defaults, IVA, CCj or bankrupcy I am sure you will be ok - just bare in mind some lenders ask for a minimum salary x

hopper5

Thanks for your reply. I have been turned down by Nationwide. I am conscious of not applying to too many as this will impact on credit score I believe.

Anyone else got any suggestions?

samtoby

Go and see a whole of the market broker. Someone who can look at your case and get copies of all your credit records.

£2 per report. I wouldn't do any more applications with out some direction from an expert.

samtoby

To add to that 7k deposit which is close to you needing 90% mortgage 10% deals are difficult I think.

harvey115

You need a small mortgage but your LTV is a bit low as well. I put your details in the Halifax and Woolwich calculators and both came up with 6.19% for 2 years and 4 years respectively.

I think Halifax and Woolwich are more lenient then Nationwide...