95% Mortgage advice needed

Cattail

Hi everyone
I'm using a broker who gave me an AIP for £135K
this was based on 5% deposit
House purchase £140K
Now he has started to look at mortgage products for me, he is finding they won't lend that amount.
Max loan is around £131K
My finances are:
Gross salary £36,900
Credit card £3300 (paid off at £100 pm)
Car £202 p.month
I have no financial dependants
my credit rating according to exprian/call credit etc is 800 excellent
I've done the affordability calculators etc and I have plenty of disposable income after my outgoings.
Question is
Does anyone know of lenders who a bit more generous with 95% mortgages please?

kingstreet

Can't you look to reduce the card debt a little on or before completion if the current balance is leaving you just £2k short?

Cattail

Thank you for your advice, i agree.
I can do that, or I could increase my deposit to £8200.
Not sure which would be most benefical in eyes of a lender.
Seems like a dark art from my limited experience. ..

Lilla_D

Reducing debt is normally better in the eyes of lenders and you'll find that by reducing debt, you can get more mortgage than what was used for the reduction.

On a separate note, a score of 800 on Experian is not that great, so it would indicate late/missed payments or other issues, even if historic. Not that the score itself is used by lenders, but if a client told me that they had a score of 800, I'd ask some questions and probably would also ask for their credit files. Credit history assessment is as strict as it comes when borrowing 95%, so best to clear up this aspect first.

Cattail

Thanks for your suggestions and I will have another chat to the broker.
He has seen a full copy of my credit report and gone over it. I have no missed payments and nothing negative on my credit file.

csgohan4

how many copies have you seen? Equifax, call credit, noodle e.t.c