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Unable to get a mortgage with (settled) defaults 16+months ago
Comments
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Thanks Jessica, much appreciated.
Dave, Not sure where we have been declined by, broker just said the only way we could make it work was with 25% deposit which we dont have.
I need to sort out this electoral roll issue and the virgin default. Not sure it'll make much difference.
Whats the difference between a building society's application and mortgage?
cheers
greg0 -
I think from your OP you are doing this the right way round and have not accepted an offer, nor been bidding on properties.
Get onto Virgin, given the amount they are likely to yield and remove. Clear up the electoral roll issues and get all the reports in front of someone suitably qualified to sort it out for you...I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Would Precise mortgages be an option? 2 defaults in last 24 months with a max value of £1500, they will do 85% LTV 2 Year Fixed at 6.69% - rate is slightly higher but definitely not requiring 25%. Could be an option!Used to be an advisor but no longer!
Still qualified and active in the FS industry!!!0 -
Possibly, although there are definitely better rates out there for the circumstances declared..I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Thanks dave. Greatly appreciated.
All the best
Greg0
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