Mortgage Declined - Broker

axel132132

My house is paid every month, no missed payments etc. (Ex is it in atm leaving hopefully February)

The house is worth 130k and mortgage is 90k so 40k profit but I'm giving her 7k to leave so 33k profit. Right now we have about 3k cash. BUT by the time the house is built it will be hopefully around 10-15k as we are in major saving mode!

This is where the deposit will be coming from, so if i pay everything off so all that's on my credit is my car. Surely this will help, is it worth trying to get a DIP with them at the end of the month? If they say no, then we can work on waiting 3 months and work on our credit.

The slight issue we have is availability of the homes for sale, we want a certain house which is in the position that its in if that makes sense. I feel after January people will begin to look again. ATM there very quite as they emailed me saying they are quite and hoping they don't sell the home.

This is why I'm trying to get a DIP asap so i can crack on, as if we have a DIP they can put the house on hold for us.

So basically, if i pay my cards of (Well my mum) then on my file i just have my car, but ill still have them in overdraft, then hopefully when we ask for a DIP soley in my name we will get this. Then the house is to take about 4-6months to build, in that 4-6 month i can make sure i do not enter my overdraft so when they do the actual mortgage then it will look a lot better?

Cheers

axel132132

My mortgage broker says its a v good idea to do experian only on my own mortgage but said he cant help me further as hsbc wont allow him to do it it will have to be direct now just a few questions

1) is there any other experian only who are less strict

2) is it worth me waiting 3 months and stay out my overdraft before applying or does that not overally matter that much with regards to everything else or shall i just get credit cards wiped of an apply then

3) for the dip is it worth cos hsbc have 3 options, phone, shop or online i was going to do it just online as pretty busy with work, can they have more leeway instore as in if it comes back no can they say send a message to head office etc or is it exactly same as online.. they put it into system like i would you get a dip automated? I ask cos yorksbank declined me then it went to head office and i got accepted back when i was an apprentice wanting a 109k mortgage ����


Thanks again in advance for your help all i appreciate it i really do

ytfcmad

You will NOT get a mortgage with HSBC.

Mortgage_Adviser

I would forget high street here with your credit history. Precise are no keen on payday loans either. Sincerely wish you all the best with your application as this is going to be a tough one.

axel132132

Im going to be doing it soley in my name

So theres no payday loans in my name

The only thing that will be on my credit is went over limit on credit card and been in my overdraft. The rest is all good had about 10 car loans all paid of, 5 credit cards all paid of, 2 personal loans all paid of. My mortgage atm with yorks bank always paid on time never any late payments or anything like that

We wont be using her data as its too bad for mortgage so surely there a mortgage out there for me with only having them as bad points and most positive

getmore4less

any decent underwriter is going to be seriously concerned.

shoddy financials

sudden reduction in credit commitments

a mortgage on a house you don't live in.

part exchange and the need for a developer deposit.

you need a good broker presenting a case why you are a reformed person.

axel132132

What are copp bank like they use experian