What types of ppl cannot get a mortgage at all?

NightNurse

After successfully obtaining a mortgage offer following a tiresome and obstacle-ridden application journey I've been singing the praises of the broker I eventually used. I've now been trying to persuade my brother-in-law to use my broker as he's been trying to get a mortgage and has actually given up. He says it is not possible for him to get a mortgage and so he will stay put I should not worry.

Now I know that there are several people who do not see the benefit of a broker because they think they will be charged large fees. I also know, from reading this site that anyone can get a mortgage, whether they've had 5 CCJs or are aged 80 or are buying a concrete flat above a stinky shop - the difference will simply be in the rate offered. I've explained this to my BIL but he appears to have resigned himself to no hope.

He's in his mid thirties, is very well paid (IMO) in permanent employment, has enought to put down a 12% deposit, only had one CCJ about 18 months ago which he cleared soon thereafter and so it somehow wiped clean off his record, according to him (??). He said he has spoken to a broker before but prospects were not good.

I'd really like to help him out but am wondering, what would be the reasons for someone to be unable to get a mortgage at all, apart from the obvious? I'll persuade him to post on here if possible.

MortgageMamma

If they were looking to borrow more than their earnings could support

In some cases when there has been a recent reposession btu there are even lenders who would consider this

A simple CCJ would not affect his ability to get a mortgage - almost anyone can get a mortgage these days

I think your BIL has just had a knock of confidence if he has approached a high street lender such as nationwide who have very strict criteria and been declined

I dont know why the general public are so hesitant to use mortgage brokers, especially as there are plenty who work on a fee's free basis.... everry broker shy client who has ever approached me has always thanked me profusely and said they could never have done it without me - they soon change their opinions when they begin to experience the benefits a broker brings to a transaction

herbiesjp

You are spot on in your post

If the CCJ does not even show, he would be able to get prime standard rates, so either way he should be able to get a mortgage

Has he been declared bankrupt?

toonfish

pretty unusual for someone not to be able to get a mortgage providing they have a deposit. They would have to be currently in fairly serious financial difficulty, or have no income.

NightNurse

herbiesjp wrote: »

You are spot on in your post

If the CCJ does not even show, he would be able to get prime standard rates, so either way he should be able to get a mortgage

Has he been declared bankrupt?

I'd be very surprised if he has but then he's not very forthcoming with details and only tells me something if I push him. I think it probably is to do with a knock in confidence because at the time he was applying he'd told all his friends and family he's moving, his daughters were looking forward to having their own rooms and things got quite sad.

herbiesjp

Well as long as his income is enough to support the mortgage and any other commitments, then he should be OK.

You are right in saying that the adverse credit history may affect the rate available, but he should still be able to get a mortgage agreed