Anywhere to turn?

Quanz2

Anywhere to turn?

We got a DIP from Halifax, which surprised me, but have justhad our mortgage application rejected by the underwriters. We were looking tobuy a property valued at £140k. We have a deposit of £56k, I earn £24, OH £6K,Savings in the bank of £5k. Here’s where it gets messy until 2months ago I hadcredit cards total 5k, and have 3 pay day loans this year, and several fromlast year. Stupidly I’ve been juggling with interest on credit cards and paydayloans, rather than telling the wife that I was struggling. Now I have we haveused the savings to pay off credit cards, making me £200 a month better off, I haveno more payday loans. Mortgage is with leeds building society and has beenmaintained for four years without any missed payments. We have a secondproperty that has about £15k of equity in it, and is rented out. Its was ouroriginal home, but when selling several years ago we discovered dry rot, sincethen its been a bit of a thorn in my side, rent out, bad tenants etc. And thepayment history on the mortgage doesn’t look good – 3 missed payments in thelast 12 months (the most recent being 7 months ago). No other missed paymentsover the last 5 years for credit cards, utilities, mobiles etc. Is there anyonethat would consider us for a mortgage? Also if possible, does anyone have any experiencewith online brokers as we’re in a fairly small town and locally options arelimited.

amnblog

Online brokers are brilliant - I should know!

You will need a broker.

ACG

You will definitely need a broker.

If you havnt got them already - get copies of your credit reports - equifax, experian, noddle.co.uk

I dont have any experience of online brokers, but most brokers will be happy to deal over the phone/email.