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Chance of getting a mortgage off mainstream lender?
Andym80
Posts: 2 Newbie
Hi All,
I had a house repossessed over 6 years ago, paid the shortfall as soon as I could, and am looking to buy again. I have about 20% deposit for a new home. So, does anyone know if the mainstream lenders will help me or will they say no. Credit file is a bit thin but all in order fully paid up to date.
Any advice/experience greatly appreciated
Andym
I had a house repossessed over 6 years ago, paid the shortfall as soon as I could, and am looking to buy again. I have about 20% deposit for a new home. So, does anyone know if the mainstream lenders will help me or will they say no. Credit file is a bit thin but all in order fully paid up to date.
Any advice/experience greatly appreciated
Andym
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Comments
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visit a broker they will know what your options areIf i knew the answers to all the questions i wouldn't be on here
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This will be difficult.
It will depend on the rest of the application.
Definitely one for a broker, there may not be high street lenders for this but it might be possible to get similar to high street rates.I am a Mortgage AdviserYou 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 -
Depends on the questions you are asked by a lender. Some lenders will ask if you have ever had a house repossessed, some will only ask if it has occurred within the last X number of years.
As far as a lender is concerned, the best indicator of your future payment performance is your history. A broker may know the right lender to put this to, you want to target the right lender, not spray and pray.0
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