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Problems with mortgage
Sandy1985
Posts: 2 Newbie
Hi all!
Looking for some advice please.
My husband and I have found a house and had an offer accepted.
I have bad credit, spending beyond my means as a young adult, but had everything- an over draft- payed off three years ago, and had payed over three years without missing a payment. I am a full time house wife, and have been for many years. Other than my over draft, I have never had any other kind of credit.
My husband earns 82000pa with occasional overtime, and has been employed with his current company for 6 years. He works in IT, and his work is field based so gets all of his travel expenses back.
He applied for a mortgage through Santander himself, and was turned down at the initial credit search.
We wanted to borrow 235000 on a 248000 house.
We got copies of all of his credit files, and there are no missed payments on anything at all. His credit score was goodAlso, I am not listed as a financial associate. We also found that he was still listed on the electoral roll at our last address as well as our current address.
He has one credit card which we use when buying appliances and we use it for Christmas, and pay off over three months. He also brought a BMW on finance last year and has just over 21000 to pay off. We pay monthly instalments of 400. We also live very much within our means, and don't live paycheck to paycheck.
We foolishly went through an estate agents mortgage advisor when he was declined from Santander and she assured us we would get a mortgage. The MA told us that after going through his credit, the only thing she can see was the two electoral rolls, and the amount outstanding on his car, being the issue. We proceeded with the application, and payed our small fee. We, like another post I have seen today, were told we needed a 10% deposit, which after jiggling money, have, and we proceeded with the full application, we, again similar to another post, have had the full credit search, but no valuation.
Somewhere else on the forum I saw that someone had been declined due to car finance.
Is this something that would have happened to us too?
We have tried to speak to the MA, but she's not at work today.
If we do get turned down again, should we leave things for a while, and then try again? I know having many searches can impact on your ability to gain credit.
Thank you in advance for any advice or suggestions anyone may have.
Looking for some advice please.
My husband and I have found a house and had an offer accepted.
I have bad credit, spending beyond my means as a young adult, but had everything- an over draft- payed off three years ago, and had payed over three years without missing a payment. I am a full time house wife, and have been for many years. Other than my over draft, I have never had any other kind of credit.
My husband earns 82000pa with occasional overtime, and has been employed with his current company for 6 years. He works in IT, and his work is field based so gets all of his travel expenses back.
He applied for a mortgage through Santander himself, and was turned down at the initial credit search.
We wanted to borrow 235000 on a 248000 house.
We got copies of all of his credit files, and there are no missed payments on anything at all. His credit score was goodAlso, I am not listed as a financial associate. We also found that he was still listed on the electoral roll at our last address as well as our current address.
He has one credit card which we use when buying appliances and we use it for Christmas, and pay off over three months. He also brought a BMW on finance last year and has just over 21000 to pay off. We pay monthly instalments of 400. We also live very much within our means, and don't live paycheck to paycheck.
We foolishly went through an estate agents mortgage advisor when he was declined from Santander and she assured us we would get a mortgage. The MA told us that after going through his credit, the only thing she can see was the two electoral rolls, and the amount outstanding on his car, being the issue. We proceeded with the application, and payed our small fee. We, like another post I have seen today, were told we needed a 10% deposit, which after jiggling money, have, and we proceeded with the full application, we, again similar to another post, have had the full credit search, but no valuation.
Somewhere else on the forum I saw that someone had been declined due to car finance.
Is this something that would have happened to us too?
We have tried to speak to the MA, but she's not at work today.
If we do get turned down again, should we leave things for a while, and then try again? I know having many searches can impact on your ability to gain credit.
Thank you in advance for any advice or suggestions anyone may have.
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