Mortgage Declined Bank of Ireland

leighlad86

Once again thanks for all the advice. I have got in touch with some family/friends recommended brokers and passed the CRA files over. In the mean time L&c came back to me and recommended halifax but to wait until my wife's CC shows as cleared as it was £1 over the agreed limit due to a charge. I have just paid this off in full to get a zero balance so I'm guessing it could take upto 6 weeks to show on Experian that this is the case? He also said we could try Kensington as a credit repair mortgage. Should I just leave L&c completely and let a broker decide or is the above along the lines most brokers would recommend? If it helps we have an Aip with Halifax and our current mortgage is with them.

Thank you

sammyjammy

leighlad86 wrote: »

Once again thanks for all the advice. I have got in touch with some family/friends recommended brokers and passed the CRA files over. In the mean time L&c came back to me and recommended halifax but to wait until my wife's CC shows as cleared as it was £1 over the agreed limit due to a charge. I have just paid this off in full to get a zero balance so I'm guessing it could take upto 6 weeks to show on Experian that this is the case? He also said we could try Kensington as a credit repair mortgage. Should I just leave L&c completely and let a broker decide or is the above along the lines most brokers would recommend? If it helps we have an Aip with Halifax and our current mortgage is with them.

Thank you

If it were me I would definitely jump ship. Even without copies of your credit reference files surely they knew about the late payments, they've really let you down and it sounds as if they are now just randomly suggesting lenders.

hopefulsoph

Hey, I'm interested how things have been going? Did you manage to find a lender or hanging on a few weeks?

leighlad86

We have got a meeting with our broker today so hopefully they can sort something out for us. I suspect it will be the adverse route for a couple of years as mentioned above. Once i have an update on which lender we are going through i will update you.

hopefulsoph

Hope it goes well! Look forward to a positive solution!

leighlad86

Meeting went well. Broker gave us 3 options and was very very confident we would get a mortgage. They get their fee on mortgage completion so I'd hope after laying it all out to them it's not a waste of time.

Going to try halifax first then consider the aldermore/precise route if it doesn't work out with Halifax.

Worse case it's 2 years of slightly higher payments but most if not all adverse would have dropped off by the time we come to remortgage.

ACG

I think there could be better options than Aldermore/Precise personally, but fingers crossed it does not come to that.

leighlad86

Halifax have come back to say they would only do it at 65% LTV the best we can get to is 70%. When i run an AIP with them it comes to a different outcome as they will lend up to £300k but when the broker runs it the AIP it comes out with £152k so i'm assuming the personal and intermediary AIPs work off different factors?

Anyway broker has now gone with Aldermore and has done the DIP however she says its accepted but with a refer to underwriter message. I noticed on the soft search on Experian the term was listed as 35 months not 35 years but i don't know if that would make a difference?

i'm expecting the worst now and frantically researching other sub prime lenders.

hopefulsoph

Hi! How are you getting on?