We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Kensington Mortgage
Options
TheRoders
Posts: 176 Forumite
Good morning
I have one default of £61 from 2012 which I only found out about when checking my credit report for the mortgage application. It seems that I paid off the credit card and then interest was applied which I was unaware of. As soon as I saw it I phoned MBNA and settled the default. This then showed up on my credit file as settled last month. You live and learn
Whilst waiting for this to show, my broker applied for an AIP with Halifax but unfortunately it got turned down :mad:
Broker then said our next option was to go to Kensington and we got a AIP from them straight away for a mortgage of £153,000. We will have £75,000 through the sale of our house so house purchase is £228,000. I have heard some bad reviews about Kensington and obviously the rates are a little higher than the high street.
Now this default is settled, would it be worth trying Halifax again or another high street lender before going down the Kensington route?
This is the ONLY thing showing on my credit file. No other missed payments etc. We do have a few debts (£7000 on CC, £7000 on loan, £12,000 finance) but the CC and loan will be paid off from the equity in this house so will leave us only with the £12,000 finance at £147 a month.
I am self employed with 2 years accounts of earnings of 20K and my hubby earns £21,000 with monthly bonuses of around £300 but we haven't taken this into consideration for the mortgage so far.
Is it worth trying again or sticking with Kensington?
I have one default of £61 from 2012 which I only found out about when checking my credit report for the mortgage application. It seems that I paid off the credit card and then interest was applied which I was unaware of. As soon as I saw it I phoned MBNA and settled the default. This then showed up on my credit file as settled last month. You live and learn
Whilst waiting for this to show, my broker applied for an AIP with Halifax but unfortunately it got turned down :mad:
Broker then said our next option was to go to Kensington and we got a AIP from them straight away for a mortgage of £153,000. We will have £75,000 through the sale of our house so house purchase is £228,000. I have heard some bad reviews about Kensington and obviously the rates are a little higher than the high street.
Now this default is settled, would it be worth trying Halifax again or another high street lender before going down the Kensington route?
This is the ONLY thing showing on my credit file. No other missed payments etc. We do have a few debts (£7000 on CC, £7000 on loan, £12,000 finance) but the CC and loan will be paid off from the equity in this house so will leave us only with the £12,000 finance at £147 a month.
I am self employed with 2 years accounts of earnings of 20K and my hubby earns £21,000 with monthly bonuses of around £300 but we haven't taken this into consideration for the mortgage so far.
Is it worth trying again or sticking with Kensington?
0
Comments
-
You need to trust your broker or switch to another one.
Trying to second guess what your broker is doing based on what you have 'heard' is not a practical route.
Kensington should do this case and is it your brokers job to manage them - not your worry.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 -
You are absolutely right... I am just a control freak I suppose and like to have all of the facts.
I will try and speak to my broker this morning.. It's the weekends that are killing me when questions start popping into my head 0 -
What date in 2012 was the default registered?
If it is within three years, it will be more of an issue for high street lenders than outside that, satisfied or not.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
September I believe.... So cross with myself as it's such a small amount. :mad:0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.2K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.2K Work, Benefits & Business
- 599.2K Mortgages, Homes & Bills
- 177K Life & Family
- 257.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards