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Poor credit shared ownership mortgage?
Emmyflower
Posts: 14 Forumite
Hello
We started the process of buying a house. Mortgage was agreed in principle. Last week barclays rejected the mortgage!!!
Husband has some defaults on his report.
Contacted Which? Mortgage broker last thursday and they said they will find us something. Is this true?
We have a 15% deposit. We only need to borrow a 25% share which is 46, 000 after the 15% deposit is taken off.
Husband earns 30,000 a year.
Please help. Will we get any offers & will it get accepted and go through???
Many thanks
We started the process of buying a house. Mortgage was agreed in principle. Last week barclays rejected the mortgage!!!
Husband has some defaults on his report.
Contacted Which? Mortgage broker last thursday and they said they will find us something. Is this true?
We have a 15% deposit. We only need to borrow a 25% share which is 46, 000 after the 15% deposit is taken off.
Husband earns 30,000 a year.
Please help. Will we get any offers & will it get accepted and go through???
Many thanks
0
Comments
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You would be better off posting this in the mortgage section - there are loads of knowledgeable people over there
0 -
You have an AIP, so your personal situation should be acceptable to them - no great surprise since you're only looking for 1.5x your husband's pay.
Why have they rejected? They don't like THIS property for some reason?0 -
Defaults on credit file. I think they are just at the two year mark.0
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They've said it's because of the defaults - but they issued an AiP?Emmyflower wrote: »Defaults on credit file. I think they are just at the two year mark.0 -
Yes.
It was barclays apparently.
We have now contacted Which? Who are trying to help us. Im just worried. The broker rang today to say one company they were consulting said they want 3 more months of debt free before lending?
The broker has gone back to say can we negotiate a higher deposit or interest rate as we cannot wait 3 months as we are part way through a sale!0
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