FTB Mortgage application stage...Can't cope!

viktoria

Good Afternoon folks.

So we're first time buyers with TSB for a 95% mortgage, we have a broker, offer accepted and the application is in... And I cant cope! I am so scared it's going to be declined, we haven't told any porky pies, his credit on one report is excellent, fair on the other mine is fair on both. He has had credit and manged it well in the past, I've never had credit (which I know now might go against me). We can more than afford the monthly payments its much less than our current rent.

So anyone out there in the same boat I can share my pain with? Or has anyone been declined and managed to get a 95% mortgage else where... Its our dream home.

Thanks in advance!

soki9111

I can relate, we are also FTB have just put in an application with TSB 10% deposit. Credit scores are excellent however I know that doesn't mean much. We have had payday loans over 2 yrs ago. Only 1 credit card with a low balance. Been honest about everything. Using a mortgage broker. Hoping to get the valuation report back after the bank holiday. Feeling anxious at every stage. But a little excited too, that it's finally happening for us.

ACG

Can you not just assume it will get declined? Then WHEN it does not, it will be a Brucie bonus!

IF it does get declined, there are other lenders to try.

viktoria

It is all very exciting! Probably shouldn't let things out with our control dampen the whole experience. But I'm trying not to get too excited... You've got excellent credit scores and 10% deposit going for you. Its a bit different in Scotland we use a home report so do not have to wait on valuation coming back. Is valuation after the application process?

viktoria

I like that 'Brucie Bonus' good way to deal with the stress... I think it must be the waiting around that's annoying for me, once I know for sure I can then try for plan B.

Bippityboppity

I adopted the 'it's going to decline, don't know why we bothered' kind of mind set when applying because I was almost certain it would! I found it made it almost ok to deal with as I sort of forgot it was all going on behind the scenes and just let them get on with it. Even now as we are just about to exchange I still feel sure something will go wrong but again, just trying to leave solicitor to it and she'll call me when she's ready. Honestly the day we complete (fingers crossed) will be the biggest relief!