What now

andys15

Malmo. I have noddle. Nothing on there. 5/5.

Malmo

andys15 wrote: »

Malmo. I have noddle. Nothing on there. 5/5.

And the other 2? Organisations can report to 1, 2 or all 3. At the moment, just reviewing Noddle results in an incomplete picture of your credit history.
As said, the 5/5 is irrelevant.

Thrugelmir

andys15 wrote: »

I just cannot understand with our joint income and trying to secure a mortgage of less than 2 times our joint income I am struggling.

A commonly held view. Lenders take a totally different view when appraising your application. In summary there are other potential borrowers applying with a far lower risk profile. The lender doesn't need your business. Also without next months pay cheque you'd be on a slippery slope downwards.

Their primary concern will be that the debt will be rolled into your mortgage and you'll go off on another spending spree. Statistically this is a highly probable event. As peoples genes determine whether they are optimistic or pessimistic in nature. With modern technology analysing the data available. It's possible to pretty accurately pigeon hole people into distinct categories.

That's way the lenders work. Their target market is set at board level. Then risk management set the criteria that underwriters offer or decline against. It's nothing personal. Just business.

Thrugelmir

andys15 wrote: »

The interest rates are all below 4%. Credit cards are all 0%.

Seems little point in remortgaging currently. Focus on paying down the debt. Particularly while interest rates remain low. I'm sure you'd could cut back even temporarily and make significant inroads into the amount you owe.

andys15

Thruglemir. That is a fair enough assessment. I never considered it like that. Plus they wouldn't be getting much interest. I would only have repaid £1.15 for every £1 borrowed. Ah well.

TBeckett100

I would pay down the 0% cards. Those will bite if you can't shift them when the 0% ends.

I suspect there is something on your file which is hampering this. To go from pass to fail using your correct name seems to show something was picked up.

I'd have thought Halifax would be a go'er for this