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Brokers- Help
Options
J_blondie
Posts: 44 Forumite
Can any brokers advise me on my situation
Current broker says he cannot find us a lender, we have 15% deposit for a house so looking to borrow £106,250. Earning a total income of 37k and have previous defaults on our files as far as I can see the most recent being 2.5 years ago.
He is saying one lender says pay off the defaults and come back in a year, can we not pay off the defaults now and move from there?
they defaults are not for large amounts either.
Is there any hope!!?
Current broker says he cannot find us a lender, we have 15% deposit for a house so looking to borrow £106,250. Earning a total income of 37k and have previous defaults on our files as far as I can see the most recent being 2.5 years ago.
He is saying one lender says pay off the defaults and come back in a year, can we not pay off the defaults now and move from there?
they defaults are not for large amounts either.
Is there any hope!!?
0
Comments
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If your broker is suggesting it cannot be done he is probably right.
You should ask another broker to assess your case in full and offer a second opinion if you are not sure.
Asking on here you will get you every response from' xxx will do it', to 'wait for 6 years' - all based on no knowledge of your situation..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 -
As above, find another broker.
Personally I think with a 15% deposit there will be options. However there could be any number of other factors away from the default that is causing a problem. Things like length of time employed, the property, the area, your income breakdown etc etc.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
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