Advice required

iammrt

Hi all at MSE

I have just applied for a mortgage with Barclays (I also run my current account with them) and after what seemed like the most thorough process in the world I have been accepted with a 10% deposit on a house valued at 127,500 (we have now had an offer accepted for this house)

They did two full credit checks on me and the property and all came back fine, in fact all they require now is a payslip as proof of income, they said they can see my banking activity as I use them for my current account. My concern is I know my credit wasnt fantastic 5 years ago....in fact I would go as it was terrible however I have worked hard to try and get it back on track, paying off my Barclays loan early, getting various short term loans to get my score up.

Like everyone I am nervous about the next steps, the valuation is due next and the property is a none standard construction. I have been assured by Barclays that the property will be fine it just depends on the valuation report

I guess I am being paranoid but am I in a good position moving forward in regards to both these points? I understand that other banks dont do a full credit search at the start but Barclays had me for almost 4 hours going through things so I guess I am in a good position?

Thanks from 2 nervous FTB!

kingstreet

What exactly do you mean by non-standard construction?

iammrt

Hi Kingstreet

It's a Steel frame and concrete build, think its called a Levitt Cartwright

The person we are buying it from are also with Barclays (got the mortgage a year ago) so I guess that's a positive?

Most the properties in our area are all the same build, when I spoke with them they had a book of builds and they said it was in there as "ok" but I guess it depends on what the survey says?

kingstreet

Livitt Cartwright.

According to my Nationwide guide, these are steel/concrete construction, built between 1940 and 1959. They are considered suitable security upto 85% LTV in original condition and on normal terms if subject to an approved repair scheme. (by Nationwide)

iammrt

sooooooo your saying be a little bit worried

kingstreet

I think you have to rely on the valuer's opinion, which you have to do with any property, to a certain extent.

If mortgaged recently, I'd be surprised if there was a problem now.

iammrt

right ok, well I guess I can only keep my fingers crossed

Anyone know about the Barclays mortgage process? From what I have been told, they seem very difficult to get one from