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turned down for remortgage despite 160k equity
Comments
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thanks, I have another appointment with a different broker next week.....lost faith in the one I'm using as he doesn't seem to understand my mortgage is not in arrears despite me giving the evidence to him...so frustrating. Income from various sources about 23k plus also now qualify for student grants as well as undertaking full time degree course...that's another 3k a year for the next 4 to 8 years depending how quickly I complete.Definitely speak to another broker.
Also get copies of your annual mortgage statements to prove the payments weren't in arrangement and/or arrears.
What income do you have?0 -
lost faith in the one I'm using as he doesn't seem to understand my mortgage is not in arrears despite me giving the evidence to him...so frustrating.
You may not be in arrears now but you have been. The lenders will make a decision based upon the credit file and the defaults and arrears will be on there for 6 years. The credit agencies won't alter your report as it is a true reflection of your account conduct in the past.
With the equity you have there may be options but your income sounds interesting. Student grants may not be usable income for a mortgage. Is your 23k earned income or benefits? If benefits then that would be another issueI am a Mortgage Adviser
You 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 -
This sounds like an extremely complex case. How on earth it would ever be one for Nationwide is beyond me.
Get a new broker immediately, and do not waste time with one who is not used to handling bad credit case.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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 -
3 Defaults in 2010, £450, £1055 and £540, now all paid in full as of this week.
2 I didn't know about in 2009 (British gas, £139 and 45 for a final bill I know nothing about but registered as 2 defaults despite it being just the one utility account) querying these as no nothing about them but wondering if I should just pay them and query later
What were the larger amounts for?0 -
Thrugelmir wrote: »What were the larger amounts for?
The larger ones were credit cards, accrued when I had big legal bils to pay after my divorce. Income is earned income, tax credits and a disability pension...initally acceptable by nationwide and halifax woukd also count it too.
All defaults now satisfied in full but foesnt sound like it will make much diffetence. Equifax credit score is 6650
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