Credit scoring

hiphopopotamus

Hi,

I've just had a mortgage application rejected by Nat West at the credit scoring stage, and am thinking about my options.

My salary is £32k and I was looking at buying at £110k with a 5% deposit.

I have roughly £5000 outstanding on a credit card and my credit file shows three late payments from 2-3 years ago.

Does anyone have any idea how I would get on with a 10% deposit with these 'blemishes'? The advisor seemed surprised it was rejected but I know they're very picky at 5%.

kingstreet

Did they not try it at 89.9%, as most seem to be doing?

Anecdotal evidence is that the bulk of 95% applications on HTB - MG are being declined, but offered at 90%, or 89.9% to improve your chances even more.