how long does it normally take?

kerri_dfw

I met with a mortgage broker 2 wednesdays ago and she took down our details and said she'd try us for a h4lifax AIP. Last Tuesday she came back to me saying they would only give 65% ltv which wasn't what she expected and did we have any adverse history. She hadn't asked that at the time and I forgot to ask about it as I'm still in new baby mode.

Anyway, we sent her across our credit reports on Wednesday (my partner couldn't email his before then add her was out that evening).

On Thursday I emailed her to check if she'd received it, she confirmed and said she'd look at them on Friday or Monday. I then emailed her on Tuesday to say I'd sent the forms to the council for updating the electoral roll. She replied saying she'd be looking at our reports yesterday. I've heard nothing since.

Should I leave her longer to look at the reports? I don't know how long these things take or if this is a reasonable amount of time to wait.

Our reports have 1 default in 2011 and 2 that will drop off in September all settled in November last year. I don't want to be wasting anyones time if we need to wait until September, but I'm wondering if if we did get a mortgage through her would be cause delays further dieback the line?

Looking for reassurance that this is normal really

amnblog

Are you saying your broker applied for a mortgage offer in principle without asking about your credit history?

kerri_dfw

She asked if we had any loans or credit cards. I responded by telling her I've got a £100 cc with barcl4ys to improve my credit rating. She just said "good" to that.

amnblog

Stop using her - inform her to stop work on your case - and go elsewhere.

Checking if you have had any credit issues is a basic part of the process.

Where did you find this individual?

kerri_dfw

She was recommended to us by a friend who had used her for several times and recommended her to other people.

Should she have met my partner also or was it ok for her just to meet with me, even though we're not married? I've only just thought of this point

amnblog

She can meet whom she wants - but not asking you if you have had any problems with credit seems a little amateursish to me.

kerri_dfw

Ok, I shall ask her to stop working on our case and find someone else via unbiased. Thank you for your advice.

amnblog

I think that may be wise - a fortnight to do a decision in principle with Halifax is ridiculous.

[if there are orange or red dots on your credit file makes sure you use a mortgage broker experienced in the adverse market]

kerri_dfw

Halifax came back as 65% ltv which was when she asked for credit reports. We both had defaults with lloyds group, which I now know she shouldn't have gone fit if she'd asked for the credit history

Dave_Ham

Inexperienced for sure, aside from incredibly slow.

Achieve your Experian, Equifax and Call Credit reports and hunt down a better broker.

What deposit as a % do you have?

10% and this will be unlikely, 15% and likely there will be options

kerri_dfw

We have 16% for a £250k house but I'm trying to look at houses around £200k so our ltv will be even lower.

How would I know whether a company specialises im adverse?