mortgage advise please

KASDRIVER

hi, my boyfriend and i have tried to get a mortgage in the past but because i have adverse credit history we were turned down.
yesterday my boyfriend decided to try for a mortgage on his own. but again got turned down.
he has a good credit file, only one late payment on a credit card and one late payment on a loan. nothing serious. he is showing as still being finacially associated to me however he was told this didnt affect his mortgage application.
he earns 30,000 a year and wanted a 110% mortgage of 150,000(136,000 for a property and 14,000 for a loan and credit cards to be paid off.)
the first time we applied was with a financial advisor from your move and this time he used a mortgage broker.
is there anything else we can do to get a mortgage- have read of people in far worse situations managing to get a mortgage- are we going to the wrong people? or are we just not in a position to get any mortgage?
any help and advice would be much appreciated.
thanks

Conrad

Assuming all his income is purely basic salary, the income multiple he sought is 5 x income.

5x income is a high risk for a lender so to balance this risk the lender will only want to lend to people that have a high credit score.

Credit scoring is a mystery to most people. Your score is created using lots of information and is statistically driven.
The fact he has had a couple of late payments does'nt help. You say 'nothing serious', however if your company paid your wages late would you also deem it 'nothing serious'?

My frank opinion is that you should borrow a lot less. If that means moving area then so be it. If you can't then don't buy.

Focus on repaying all debt, make sureyou are on the voters roll and have a home telephone and work LANDLINE number. Also try not to change address or job.
If you do all this you will be able to buy soon enough.

Learning to live without debt is life enhancing. As I always say to my youngest brother "wearing designer clothes is UNCOOL, as all you are doing is making a very rich designer even richer. That is sheep like and crowd following".

Ever noticed how some seriously rich people (not boncers who drive Range Rovers) never display designer labels?

KASDRIVER

Conrad wrote: »

Assuming all his income is purely basic salary, the income multiple he sought is 5 x income.

5x income is a high risk for a lender so to balance this risk the lender will only want to lend to people that have a high credit score.

Credit scoring is a mystery to most people. Your score is created using lots of information and is statistically driven.
The fact he has had a couple of late payments does'nt help. You say 'nothing serious', however if your company paid your wages late would you also deem it 'nothing serious'?

My frank opinion is that you should borrow a lot less. If that means moving area then so be it. If you can't then don't buy.

Focus on repaying all debt, make sureyou are on the voters roll and have a home telephone and work LANDLINE number. Also try not to change address or job.
If you do all this you will be able to buy soon enough.

Learning to live without debt is life enhancing. As I always say to my youngest brother "wearing designer clothes is UNCOOL, as all you are doing is making a very rich designer even richer. That is sheep like and crowd following".

Ever noticed how some seriously rich people (not boncers who drive Range Rovers) never display designer labels?

hi, thanks for your advice
it seems yes that our main problem is that we need to borrow so much.
property in our area is expensive and moving away is not an option because of the cost to travel back for work.
so we will just have to wait for 18 months by then we will be debt free and can start saving for a deposit. hopefully then it will be easier because we wont need to borrow as much.