Do I have any chance at all for 95%???

donnasmall3

Hi everyone, I have £5200 as a dep for a property which is £80000, I am a FTB who wants to do 95% I have recently cleared of all my debt, credit card, loan, and HP. I had a brief chat with Natwest who advised me that I could not get more than £23000, but in fairness one of my previous defaults was with them, although not currently showing on credit report. No defaults showing on credit report. Score is currently 812
What is the likely hood I could get this mortgage that I need with someone else, Natwest suggested they done a soft footprint, this should not affect me with anyone else should it?
Any ideas who to try now? I would have thought I was in a pretty good position? Am I or not? Any suggestions answers would be fantastic, as I want to try and do this before Christmas if possible.
Thanks in advance:D:D

GMS

Income? List of defaults, dates and amounts? Any other adverse credit?

amnblog

Check all credit reports - do not assume that just because it is not on one report do not assume it will not be on the another.

stator

You'll need to keep saving. £4k deposit + £1200 for fees and moving costs isn't enough.
As others said get your full credit reports from all three Experian, Equifax, Call credit. Don't pay for the credit score, it's irellevent.
Use the bank's website calculators to see if any of them would lend you £80k on your salary. They all have different rules.

donnasmall3

GMS wrote: »

Income? List of defaults, dates and amounts? Any other adverse credit?

no defaults showing, all over 6 yrs old only had three when i did have them all in total under £1000, last one dropped off june this year for about £428 with Natwest... cannot remember who the others were with but again in total less athan £1000

donnasmall3

stator wrote: »

You'll need to keep saving. £4k deposit + £1200 for fees and moving costs isn't enough.
As others said get your full credit reports from all three Experian, Equifax, Call credit. Don't pay for the credit score, it's irellevent.
Use the bank's website calculators to see if any of them would lend you £80k on your salary. They all have different rules.

i will be continuting tosave about 550 per month until i am ready so i should have enough to cover everything by then

jimjames

donnasmall3 wrote: »

no defaults showing, all over 6 yrs old only had three when i did have them all in total under £1000, last one dropped off june this year for about £428 with Natwest... cannot remember who the others were with but again in total less athan £1000

Key factor is income which you've not given.

For example your income is £10k then it's not surprising they won't lend £80k. 95% is the max LTV but it still requires you to have sufficient income to pay.

donnasmall3

jimjames wrote: »

Key factor is income which you've not given.

For example your income is £10k then it's not surprising they won't lend £80k. 95% is the max LTV but it still requires you to have sufficient income to pay.

i am currently earning £20248 pa

GMS

Speak to a broker. There may be options for you.

Get copies of credit eports from Experian, Equifax and Call Credit

donnasmall3

GMS wrote: »

Speak to a broker. There may be options for you.

Get copies of credit eports from Experian, Equifax and Call Credit

Since putting this post up i have since checked my credit reports i have checked experian, eqifax and noddle via call credit all looks ok. Noddle i only signed up to today but all looks good otherwise. considering you are a broker what are your thoughts on it based on the information that i have provided?

Daisymoocow

why did NatWest say they would only lend you 23k? your income is just over 20k so in theory you should be able to borrow between 60k - 80k with most lenders?