Is my mortgage broker rubbish??

exxa

I'm buying a house alone for the first time.

My credit score is 969.

My debt is low £6,400 including a loan that ends in 11 months.

I earn between £30K and £35K.

10% deposit on a house at £82K.

The mortgage is almost £200 less than the rent I've been paying without a problem for the last 18 months (when I sold my last house, which was a joint mortgage with an ex).

My mortgage broker said she's tried 3 lenders today who all declined a 90% mortgage but approved an 85% mortgage.

I'm surprised at this.

I don't want to keep applying as it could make my credit file look bad.

Any tips?

dunstonh

My credit score is 969.

That is a marketing gimick. Ignore it.

Is your mortgage adviser independent, whole of market or panel?

Whilst your mortgage payment would be £200 less now, remember these are all time lows. Double it to get to average. Quadruple it to get to possible bad periods.

Thrugelmir

You debt may be low but so is saved deposit.

So little your broker can do if lenders aren't interested.

exxa

Thanks for your replies.
The advisor is whole of market, not sure if independent.
So, have I no chance of a 90% mortgage?? :-(

Dave_Ham

Yes, rubbish. Not because they cannot get you 90 percent as there may be a plausible reason why.

But rubbish because they either do not know, or not explained the reason to you.

So, ask why. Do you own another property as some lenders cap at 85 percent here. Alternaively get your experian, equifax and call credit; credit files and the reason will be in there.

It certainly should not be on affordability.

Where have they tried?