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Credit Rating Excellent but 1-2 red flags - Will I still get a mortgage?
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The best way to improve your situation is to trust your broker, or find another one.
Lender selection is more important than anything you can do, other than wait of course.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 -
and stop trying to do the broker's job for them!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 -
The best way to improve your situation is to trust your broker, or find another one.
Lender selection is more important than anything you can do, other than wait of course.
Ok, good news. So there are mortgages out there for me, it's just a matter of selecting the correct lender?
Apologies for all the questions, bit of a nightmare all this worry about whether I'll ever actually be able to buy a house!
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Which lender has issued the decision in principle?
As above, ignore the creidt score. As an example you could have a 999 rating and no income meaning your chance of a mortgage is zero.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 -
Which lender has issued the decision in principle?
As above, ignore the creidt score. As an example you could have a 999 rating and no income meaning your chance of a mortgage is zero.
Leeds Building Society.
My mortgage advisor does know about the credit issues but I didn't specifically request one that was super friendly (although I kind of assume he wouldn't select a super harsh one).0 -
Unfortunately fryerrobin I was in the same situation as you and I got refused by 3/4 high street lenders
In the end I went with lenders such as Precise and GE Money who were prepared to overlook the defaults.
Good luck but as you have been told you need to select the lender carefully as there are lenders who will overlook the defaults but the down side is the rates are higher!
FYI - any default or late payment recorded against you stays on your report for 6 years from the time it was reported and not the time you missed payment or defaulted. Trust me I learnt from that and I am only now in a position to get a mortgage! Its a long and hard road!!!!0
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