A South Wales based Broker

RedCardiff

Good evening all

Finally after years of battling I have a clear credit rating and a £22,000 deposit ready to get my first mortgage.
I was wondering if anyone knows of a trustworthy mortgage broker based around Cardiff.
Also as my credit report is newly clear of all negative accounts should I be able to get a mortgage? ( My wife and I have secure jobs and are on the electoral register and only 1 credit card debt) - or can it take a while to build the score up after gaining a clean bill of health.

Many thanks all

Dave_Ham

Ensure you check on both Experian and Equifax credit files if you have not done so, as every lenders uses them differently and sometimes they can be a pain to clear down adverse.

It is crucial you list all of your previous bad debts and show these to the broker you see, as some share information on previous bad debts within that group and therefore even though your credit files are clean the internal system may not work that way..

Aside from that and having a credit card which you use and pay off in full, you should be fine with a sensible broker.

Lastly, if your adverse included an IVA or Bankruptcy you need to double check the insolvency register that you have been removed from there (if applicable) also.

Good luck

RedCardiff

Cheers DaveHam

Somehow I guessed it wouldn't be quite so clear cut. I've got a single default and an old Orange account with 2 missed payments from my student days. No CCJs or IVAs, I haven't missed a payment on anything for 5yrs and 10 months and they are all from 2006 on both reports so should disappear in September. Infact I called both companies helplines and they confirmed this so at least that is something.
Out of interest what is the point of having 2 diff credit reporting companies, surely one national organisation would be better? You know where you are then.
I got one of those high apr credit cards to repair my credit history which has worked well so far.

Just going to go into HSBC and say - Gimme me da money. Think it will work well.

mildred1978

HSBC are probably the harshest lender. Just to warn you.

Dave_Ham

I hope that was meant in jest - HSBC are possibly the worst selection - although maybe if you ask like that?

To be honest, there are actually 3 main Credit Reporting Agencies as Callcredit also operate but not many use them so did not want to blow you away with a third to check.

It is a silly situation and items do not appear on some reports and some lenders use different reports etc. so there is scope if not showing on both files.

Given the length of time and the amount and the fact they are a telecommunications provider you may be ok...

Good luck - give the HSBC a swerve - genuinely.

RedCardiff

You see this is why I need a quality broker to talk to. The last one from the valleys advised me to buy a balaclava before I go and see them.
In honesty it's a bit of a minefield by the sound of it so fingers crossed.

If there's one piece of advice I could give my son it would be 'don't miss any bloody payments on anything'

RedCardiff

Sorry DaveHam meant to ask if you knew anyone down in South Wales who is trustworthy? I guess you're based in London yourself.

Dave_Ham

Afraid not, limit of my valleys was back in the day with many a trip to see the ex inlaws in Ogmore Vale - sure it has changed loads since then but fully appreciate the Valleys brokers are probably not upto speed on these bits as much as what we are in the Cities, especially London as most cases I tend to deal with are tricky ones..

Not any good ones you can get recommended in Bridgend?

RedCardiff

I live in the valleys now and it certainly is a beautiful part of the world, and very inexpensive for house buying. Ogmore Vale is a little posher (as most places are with the word Vale in the name) but stunning all the same.

Thanks for your help, will endevour to find someone on the web

Dave_Ham

Just ask them whether they have limited access to the market or whole of market. Ask about fees and I would just ask how good they are?

Anything you want sense checked, come on and ask away.

Good luck