mortgage declined

tele2

We have just been declined for a remortgage with Db mortgages,reasons given my break in employment (6weeks) . I believe there were other reasons which i will list,but with the so called credit crunch,sub prime lending being in the news ,is it possible at the moment a lender would consider us?.

we are looking to borrow £58,000 over 22yrs
house valued in august £98,000

joint income £30,000
husband discharged bankrupt 2 yrs
i have an arranged payment with a bank (£35 month)
i changed jobs in july with a 6 week break between jobs

any feedback would be most helpful thank you

herbiesjp

Who is your current lender? What have they offered?

At just under 60% loan to value you should be able to find a re-mortgage deal even with adverse credit, but you will need to work out if it is better staying put as opposed to finding a new lender

tele2

Thanks for the reply herbiesjp.
our current lender is gmac and rate just seems to keep going up, now at 9.5%.our broker said there is just no point in going through gmac again . this is when he advised on going through db mortgages. since i posted this thread our advisior has came back to us with a mortgage in principle from accord at a rate of 7.45% fixed for 2yrs with fees of £995 . is this a good offer considering our past history?

herbiesjp

I'm not in a position to comment on whether or not it is a good deal for you, as I know nothing about your circumstances, however it is certainly cheaper