FTB mortgage, help please!

floss123

We are first time buyers and have 20% deposit. (Currently renting)

Before we started looking for a property we saw a few mortgage advisors who took a few details from us and confirmed that on our current salaries we would be able to borrow the 80% needed, subject to a credit check.

We have been looking for a property for ages and have finally found one and put an offer in, which has been accepted.

So we went back to the mortgage company who would give us the best rate, and started to complete a FULL credit check, etc.

We were then told that due to us leaving the country for a gap year, we would not be accepted by ANY company for a mortgage, and would have to reside in the UK for a minumum of 2 years before being accepted.

We are UK citizens, have lived in the UK all our lives, we simply went abroad for 18 months to work (and ironically save up for a deposit for a house!)

So, we have to more fairly quickly on this. The mortgage company who we went to for the credit check has sent in an 'appeal' with all the details of our circumstances.

Does anyone know of any company who would lend a FTB who has lived abroad and then come back? We are both in full time employment.

Any help is much appreciated.

Thank you

Dave_Ham

Who is the current application with?

I would fancy (subject to the details and employment being permanent etc.) that you will have solutions.

floss123

Its with Yorkshire Building Society. They are sending an appeal today but I'm told they're very strict with that rule.

Let_Us_See

Change lender. Should easily be placed with another lender.

floss123

Have you any idea on which lender should be able to lend given our circumstances? YBS were certain no-one would lend to us, only being back in the UK 10 months.

Dave_Ham

Yeah, do not think Yorkshire was the best option based upon this information.

I would be looking at another lender as to not run the risk of the Estate Agent getting heavy due to no valuation as yet.

Rest assured if you are using the Estate Agent advisor they probably already know.

All the best

kingstreet

YBS is typical of many lenders.

If they don't do it, no-one else does. Or that's what they think.

Put it in the hands of a good whole market or independent broker for the best deal. Otherwise, you need to hit the phone and start asking lenders if they will offer you a mortgage.

floss123

Thank you for your quick response.

Am on the phone now to more lenders... looking positive. Thanks again x