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What are our chances!?
Pinkrose_2
Posts: 2 Newbie
Ok so am in the process of going for a mortgage through a whole of market broker.
Mortgage going through partners name.
Salary 26k
Looking to borrow 95k
Deposit £10k
Only problem is, low credit score of 717 on experian due to just being put on electoral roll last month and outstanding balance of around 5k on car finance. Payments spot on met every month. Last payment due 2015. This is his only 'credit' he has to his name as he's always believed in paying for things as he needed it.
Nationwide have refereed our application to underwriters. Broker is going to try santandere if fails with them.
Any thoughts, input would help as guts are going abit!
Do I prepare myself for the worst?
Mortgage going through partners name.
Salary 26k
Looking to borrow 95k
Deposit £10k
Only problem is, low credit score of 717 on experian due to just being put on electoral roll last month and outstanding balance of around 5k on car finance. Payments spot on met every month. Last payment due 2015. This is his only 'credit' he has to his name as he's always believed in paying for things as he needed it.
Nationwide have refereed our application to underwriters. Broker is going to try santandere if fails with them.
Any thoughts, input would help as guts are going abit!
Do I prepare myself for the worst?
0
Comments
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There should be no major problems getting a mortgage really.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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Even though he has only joined the electoral roll last month? He was staying at this mums for 8 months prior and never joined on hers.
Also I thought him only having the car finance, and only that, would be seen as him not having a good track record of borrowing and paying back..0 -
Your broker should be speaking to his account manger/underwriter before submitting it.
But the lender may just ask for proof of address during certain periods and that can be things like bank statements etc from the time.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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