Underwriters

TrueBlueAngel

JoeK wrote: »

What's your mortgage advisor doing about it?

I can only assume that it was your mortgage advisor that introduced you to the lender in the first place.

It's obvious that some information has come to light that the lender is not happy about. This is sometimes taken as a negative when in fact it can be taken as a positive, as it indicates the route that you need to take.




Sorry but you need to kick a**e and get your mortgage advisor in gear or find another one.

Don't accept second class service.

JoeK

As I said above, the mortgage advisor is doing nothing, she says there is nothing more she can do, shes explored every avenue for us. Future want to give us the mortgage but the underwriters dont. There's no positive here, just negative. We'll just have a to try again in a year or so and see if the situation has changed.

JoeK_3

TrueBlueAngel wrote: »

As I said above, the mortgage advisor is doing nothing, she says there is nothing more she can do, shes explored every avenue for us. Future want to give us the mortgage but the underwriters dont. There's no positive here, just negative. We'll just have a to try again in a year or so and see if the situation has changed.

Is your mortgage advisor whole of market or working from a panel of lenders?

Unfortunately you do not post the property, loan amount and income and adverse history details but as it's Future, I can only assume that you have applied for a self cert mortgage.

It may be helpful if you got a second opinion.

JoeK

TrueBlueAngel

The advisor is whole of the market. We applied for a 100% mortgage but the underwriters said no to that and will only agree to 90%. We'll never be in a position to find 10%. Throughout all this, we have passed the affordability for 100%. The only averse history is hubby had a minor default earlier this year which has been satisfied. This was never a problem for Future. Anyway, whats done is done. I dont know where else to look.

herbiesjp

As has been posted there may be other avenues for you to look at

How much was the default for and with who?

Without the figures you are looking at, it is difficlut to say if you are able to look elsewhere or not

TrueBlueAngel

The default was for £113 with a mail company. The house we were after was £172,000.

JoeK_3

TrueBlueAngel wrote: »

The advisor is whole of the market. We applied for a 100% mortgage but the underwriters said no to that and will only agree to 90%. We'll never be in a position to find 10%. Throughout all this, we have passed the affordability for 100%. The only averse history is hubby had a minor default earlier this year which has been satisfied. This was never a problem for Future. Anyway, whats done is done. I dont know where else to look.

There is more than one way to skin a cat, as the saying goes.

You have still not posted the loan amount required and your incomes.

How much deposit are you looking for?

What is the property value?

Do you own a property at the moment or are you a tenant?

Believe me, I am trying to help here and not prying.

JoeK

TrueBlueAngel

JoeK wrote: »

There is more than one way to skin a cat, as the saying goes.

You have still not posted the loan amount required and your incomes.

How much deposit are you looking for?

What is the property value?

Do you own a property at the moment or are you a tenant?

Believe me, I am trying to help here and not prying.

JoeK

Loan amount is £172,00 plus £3354 for fees added to the loan.

We have a joint income of approx. £39,000.

£0 deposit.

Property value is £172,000.

We are private tenants at the moment.

toonfish

You could try Coventry Building Society if the default is easy to explain away. What was it for?

JoeK_3

TrueBlueAngel wrote: »

Loan amount is £172,00 plus £3354 for fees added to the loan.

We have a joint income of approx. £39,000.

£0 deposit.

Property value is £172,000.

We are private tenants at the moment.

Many thanks for the information supplied.

Based on this information and my understanding, Future Mortgages do offer 100% mortgages and the loan amount is based on affordability, not on income multiples.

Future mortgages criteria on defaults is that they are ignored. Unfortunately you are dealing with a mortgage advisor who is either not fighting your corner with Future Mortgages underwriter or something other than the default has shown up.


JoeK

herbiesjp

Based on those figures there are a few more lenders that could look at the mortgage for you, as long as there is a good explanation for the default
Did your broker apply for any agreements in principle with any other lenders? Who were they?