adverse credit

jkmoreton

Thanks everyone, i meant to say im after mortgage of 95k with 13/14k deposit so need mortage of 81/82k. i earn 24k per year and only credit commitment i have is maintenance at 220 a month. I paid valuation fee with the Loughborough bs last week and have chased them up but i keep getting told its at the underwriters which is making think its been declined ? if it is declined can i get the valuation fee back ? thanks again

ACG

If its been declined they would tell you... what purpose would it serve to not tell you? It just means they have one more person chasing them for info.

Also, if/when they ask for additional documents this is a good sign. If they were going to decline they would not ask for further evidence.

If the valuation has been carried out, they would not refund it. If the valuation has not been carried out they should refund it.

jkmoreton

Many thanks ACG, Do they wait until they have offered me a mortgage before doing the valuation or do they do it anyhow so i could lose the £150 i paid ? really appreciate the help as it seems a minefield

ACG

Usually it will be done once the underwriting has been done, but some lenders instruct it straigth away. I dont know how your lender would do it so its worth speaking to your broker.

jkmoreton

Thanks ACG, my broker is shall we say not really that interested, he has a estate agent he owns and thats his main job so i can never ever get him. He got my brother a mortgage as he is known to my brothers wifes family so i spoke to him and he just put me through to Loughborough bs as he advised there good with adverse credit.:)

ACG

Majority of people moaning about their brokers are e/a based brokers.

Walk in to his office and ask him to chase it up? You shoudlnt have to do that but if it gets the job done.

jkmoreton

Thanks ACG, im going to wait see what LGH bs come back with and if its a decline im going to contact a local broker ... thanks again youve been most helpful