In Need of Mortgage Advice

valleyboy

Ok, basically, i currently own my own house, which i am selling and will walk away with approximately £4k.

Me and my girlfriend were hoping to move to a property which we have had an offer of £88,500 accepted on,

however, I have bad credit rating (defaults and arrears) and she has very good credit rating, now Northern rock agreed in principle that on her earnings alone, (19500) they would be prepared to lend 88500, we dont actually need a one hundred percent mortgage but thought it may be slightly easier on ourselves if we had one and used the money from the sale of my house to decorate etc.

But... Northern Rock have now came back and declined the Mortgage due to my girlfriends income not matching what she has said, she gets paid cash and hasnt always paid it all in to the bank, they have recieved pay slips and a letter off her boss saying what she earns.

we dont know what to do now as everything seems like it is going to fall through

would it be possible to get a sub prime mortgage with me and her wages (29k and 19.5k) not even two times our annual salary - and what companies should we approach.

or is there another company similar to northern rock who would lend 95% for just her.

please get back to me as i am getting seriously stressed with all of this.

Valleyboy

Conrad

Lenders will probably lend to her only as you have adverse credit.

For high income multiple some lenders one might consider include;

IF
RBS
First National / I Group
DB Mortgages

Note she will have to satisfy any lender that she earns what she says she does, otherwise they would be complicit in irresponsible lending.