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Mortgage target markets
BBen
Posts: 23 Forumite
I've got a low income about 16.25k a year and a good deposit 40k looking to buy a house for 95 -110k.
I'm a single person, no credit issues - I believe that makes me a straight forward case for mortgage providers.
I've used the MSE mortgage best buys tool. HSBC and First Direct mortgages come out top for my circumstances. Followed by Woolwich whose rates aren't so good and then Nationwide who may not lend me quite enough.
Looking through the forum its said that mortgage providers have target markets and that HSBC/ First Direct may reject me based on my low income
The mortgage advisor at L&C suggested that as long as there are no hidden issues with me the banks will offer what their calculators say they will.
Which is true? And if there's some truth in it can any one rank these providers for me in terms of who is most likely to accept me? Or suggest which providers would be most welcoming?
Also some of these mortgages are direct application mortgages - does that mean I can't get help when applying for them?
I'm a single person, no credit issues - I believe that makes me a straight forward case for mortgage providers.
I've used the MSE mortgage best buys tool. HSBC and First Direct mortgages come out top for my circumstances. Followed by Woolwich whose rates aren't so good and then Nationwide who may not lend me quite enough.
Looking through the forum its said that mortgage providers have target markets and that HSBC/ First Direct may reject me based on my low income
The mortgage advisor at L&C suggested that as long as there are no hidden issues with me the banks will offer what their calculators say they will.
Which is true? And if there's some truth in it can any one rank these providers for me in terms of who is most likely to accept me? Or suggest which providers would be most welcoming?
Also some of these mortgages are direct application mortgages - does that mean I can't get help when applying for them?
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