Mortgage troubles!!

fw_reaper

Hi,

Me (25) and my partner (24) have been trying to get a mortgage AIP, but we have been struggling since the beginning.

I have had some mild adverse credit a few years ago, the most recent which was a default which was of £49 which will be 2 years old in Feb 2017 (2 months away).

Everything on the credit report is settled/satisfied, the credit rating is at 702, before i increased my credit limit on my credit card.

I currently have a capital one credit card which is paid off straight away after use, i havent missed any payments on anything for 2 years now, yet we are struggling to get a mortgage.

we have been to see a few mortgage advisors who fill us full of false hopes, which always leads to the answer being "No, but in 6 months you will be fine" 6 months pass we save more money and we still cant get a mortgage. we have nearly a 10% deposit and are both in well paid jobs.

It seems there is a certain number for the credit score before the computer decides your safe, Why is this? whatever happened to having someone at the bank who could look at and ask the questions about why payments were missed? its just a computer that always denies us.

Please can anyone help or at least give us a timescale that is realistic! I understand the bad credit doesnt help but surely there must be a way around this?

Many thanks.

[Deleted User]

There is no magic credit score, simply because universal credit scores do not exist. Each lender will take their own view on your based on your credit files and other data.

ACG

There is no one credit score, every lender scores you according to their own algorhythm.

Get your credit reports and take them to an experienced broker. Bare in mind credit checks do affect your credit score so do not be doing them blindly. You need to do them with a lender you have ome confidence will accept you.

Thrugelmir

fw_reaper wrote: »

Everything on the credit report is settled/satisfied,

Did you default in the past?

Westminster

Thrugelmir wrote: »

Did you default in the past?

Looks like it:

I have had some mild adverse credit a few years ago, the most recent which was a default which was of £49 which will be 2 years old in Feb 2017 (2 months away).

Thrugelmir

Westminster wrote: »

Looks like it:

That's why I was asking the question. As had been glossed over.

csgohan4

You really need a specialist broker dealing in adverse credit, not the free ones you get online.


If you don't pay anything, don't expect the best service for yourself

fw_reaper

We have spoken to 3 different advisors and brokers.

They all say it shouldn't be a problem, even after sending copies of credit file. Yet once we go through it in person they always say no.

Does anyone have any recommendations for a mortgage advisor/broker to speak to? We are located in Cambridge.

It seems near on impossible to get a mortgage for ourselves yet we are both in good positions. My partners credit score is near on perfect so we know the problem is due to myself.

Thanks again

ap1985

I had adverse credit (CCJ and Defaults) and I used London and Country and they managed to help me...however my CCJ and defaults had started falling off my credit file and one is to drop off January 2017, so my credit file was clear for 2 years which i think helped.

fw_reaper

I haven't had any ccj only defaults 3 currently on my file, the most recent is 2 years old in Feb 2017

Hopefully that will be when we can get a mortgage. I will check that company out thank you

Verix

fw_reaper wrote: »

They all say it shouldn't be a problem, even after sending copies of credit file. Yet once we go through it in person they always say no.

Can I ask what it is that is coming to light when you see them that is causing the issue for you?