Mortgage chances, just found a OD charge!

LittleMissKitty

There's no point to this post really apart from me hoping one of you could tell me that there is ANY hope still!

I've been sifting through my bank statements and there is a transaction last month that pushed us over our overdraft limit for a whole 24 hours. I have a million excuses but this no place for them so basically the facts are as follows:

We want to borrow £90k on a £170k purchase

OH earns £25k basic with a 26% shift allowance.

We get £900 every 4 weeks from taxcredits/child benefit

We've been living in our overdraft for about 3 months between Feb-Apr, it's all clear now but I'd imagine they don't much care about that!

We are going to be charged (I assume) this month for going over the OD limit.

We have no loans or credit cards.

We intended to port our mortgage but were declined, the refuse to give us a reason (they haven't even looked at our statements) so we now need a new mortgage.

Unfortunately we can't wait and clear 6 months of statements to move as my husband is working 530 miles away and his housing is a consideration. Our house sale is also nearing exchange so we will be temporarily living with my parents.

So, any hope? Or shall start looking for a rental place?

ACG

There will be lenders for it assuming that is the only reason. I submitted a case on Friday where the lender has not even asked for bank statements.

I would suggest you find a broker (not an estate agent based broker) and explain the situation to them.

I would also request copies of your credit reports (experian, equifax, noddle) and if the broker you speak to does not request these once you say you have been declined on your current application I would probably ring another.

LittleMissKitty

Thank you ACG, we have a broker but he didn't ask a lot of the questions I would have expected and only asked for my statements when he'd 'found us a deal'.

I've emailed him and explained the state of things so we shall see if he can find anything. I think he was going to attempt to get us a Nationwide mortgage - not a chance of that!