5.5 high multiple

kingkano

An AIP usually does credit score (I was told by my broker than northern rock certainly does). Our broker also put the loan amount down and ticked for it being cleared at completion so that sounds correct too.

Sorry Im not sure on the others, you already have the house your buying setup etc?

MortgageMamma

As long as you added up all your outstanding loans and 5% deposit and have this as your unsecured loan figure (make sure yu get actual settlement figures for these) and work out 95% of the property purchase price, you cant really go wrong. I would advise you to go through a broker with this though, as unless you are used to mortgages you need it explaining, for example, what repayment term did you pick? Did you request help with costs? did you pick a fixed rate? do you understand what happens if you dont want to loan anymore or if you want to move house?

Its good you got approved though, hopefully now there's some light at the end of the tunnel for you - there's also two other companies doing these, coventry building society and BM solutions, but don't go applying for them as their criteria is different to NR's and too many credit checks will damage your credit rating...