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Mortgage Application Issue
parabox
Posts: 12 Forumite
Hi All,
I've recently been rejected for a mortgage, my credit score last time I checked (about 2 months ago, nothing changed) was 897. I saw a mortgage advisor who tried to secure the mortgage from 3 companies. I was applying for 100,000 with a 10,000 deposit which is all I have in this cruel world.
I do have a default from Vodafone which was a mobile phone contract I had left running while I was out of the country, this was settled as soon as I returned.
Is there anything that I could try to get around this or am I stuffed for the next six years?
I've recently been rejected for a mortgage, my credit score last time I checked (about 2 months ago, nothing changed) was 897. I saw a mortgage advisor who tried to secure the mortgage from 3 companies. I was applying for 100,000 with a 10,000 deposit which is all I have in this cruel world.
I do have a default from Vodafone which was a mobile phone contract I had left running while I was out of the country, this was settled as soon as I returned.
Is there anything that I could try to get around this or am I stuffed for the next six years?
0
Comments
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If it is satisfied then there will be prime companies who will look at your application 3 years after a satisfied default. If not you are going to have to have an honest chat with a broker or two to see if they have any lenders on their books that will take you on.Grab life by the balls before it grabs you by the neck.0
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The low level of deposit might be the problem. £10k is only 9% and I might be wrong, but I don't know of any lender who is considering anything less than 10%.
If you are looking to purchase a £110k house, you're going to need another grand at least. Plus the money for fees involved in housebuying.
Could you lower your sights a little to properties around the £90k mark?You had me at your proper use of "you're".0 -
Thanks for your responses.
What do you mean by Prime companies?
My broker tried to borrow as low as 65,000 and they still rejected my application.0
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