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Can I get a mortgage?
M47
Posts: 60 Forumite
Hi guys, I recently applied for a mortgage and have been told that they will only lend to me on a 60%loan to value. I only have a 5% deposit and was relying on the governments help to buy scheme to make it up to 75%LTV. I do not live in london so the 40% deposit doesn't apply to me.
I was a little shocked because I haven't taken out credit and not paid, or miss any payments, had any defults or CCJ's, I have barely ever even taken out any credit!
The reason for my credit history being so little is because I spent many years out of the country. I only returned properly 6 months ago. I am a British citizen and was born here BTW.
Did I go to the wrong broker? or are there lenders who who look past my lack of credit history?and give me a mortgage?
I was a little shocked because I haven't taken out credit and not paid, or miss any payments, had any defults or CCJ's, I have barely ever even taken out any credit!
The reason for my credit history being so little is because I spent many years out of the country. I only returned properly 6 months ago. I am a British citizen and was born here BTW.
Did I go to the wrong broker? or are there lenders who who look past my lack of credit history?and give me a mortgage?
0
Comments
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Which lender did you use? Direct or broker introduced?
You will have very limited options on HTB only being back in the UK six months - only two or three lenders, to be precise.
Your lack of UK credit history will be the issue and only time can improve that and increase the number of lenders open to you.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
As you’re currently claiming housing benefit it’s likely that your income is simply too low for them to offer you more.0
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