Excellent credit and poor credit - help to buy mortgage help!

Jobyjo

Hi everyone,

I’ve been reading some of these threads over the last couple of weeks as we are looking to buy our first home

We are currently renting and paying £900 a month. We decided enough was enough and when we got given a large sum by a family member along with the amount of savings we had we decided we would look into the help to buy.

We looked at our credit files, my partners is 982 and mine is 300 both on Experian. I was convinced I wouldn’t get a mortgage with that and looked rather on Experian and it matched me to some mortgages. So I felt all hope was not lost.

We found a house on help to buy, and after discussing with the developers and a mortgage broker they both said to see if we could get accepted on he help to buy - which we did - then apply for a mortgage.

Our mortgage broker who is linked to the developer has tried NatWest and nationwide who I didn’t think would accept my credit score and both have declined. He has applied to another who, in his words, are more “lenient” with poor credit. Still awaiting to hear.

Just wondered if anyone had any past experiences with of something like this. Some people I have seen on these threads have suggested to try Aldermore. But our mortgage broker said only certain banks do help to buy.

Thank you !!!128522;

[Deleted User]

Your score are made up so not of any use.

What do your credit files show?

Jobyjo

I have one ccj from 3 years ago and a default of around the same time.

[Deleted User]

Are your CCJ and default settled?

What do his files show?

Jobyjo

His files show everything perfect. Never missed a payment.

Mine are all settled and ccj was for under £300

The_Analyst

Deleted_User wrote: »

Your score are made up so not of any use.

What do your credit files show?

Everyone on here says that, but my mortgage broker asked for our scores and said our mortgage provider looks at credit file AND credit score

The_Analyst

Jobyjo wrote: »

Hi everyone,

I’ve been reading some of these threads over the last couple of weeks as we are looking to buy our first home

We are currently renting and paying £900 a month. We decided enough was enough and when we got given a large sum by a family member along with the amount of savings we had we decided we would look into the help to buy.

We looked at our credit files, my partners is 982 and mine is 300 both on Experian. I was convinced I wouldn’t get a mortgage with that and looked rather on Experian and it matched me to some mortgages. So I felt all hope was not lost.

We found a house on help to buy, and after discussing with the developers and a mortgage broker they both said to see if we could get accepted on he help to buy - which we did - then apply for a mortgage.

Our mortgage broker who is linked to the developer has tried NatWest and nationwide who I didn’t think would accept my credit score and both have declined. He has applied to another who, in his words, are more “lenient” with poor credit. Still awaiting to hear.

Just wondered if anyone had any past experiences with of something like this. Some people I have seen on these threads have suggested to try Aldermore. But our mortgage broker said only certain banks do help to buy.

Thank you !!!128522;

I looked at moving my mortgage a couple of years back. At the time we both had 2 or 3 defaults on our record, but as they were more than 3 years old, our broker was able to find a number of lenders willing to play ball. Don't give up hope

[Deleted User]

The_Analyst wrote: »

Everyone on here says that, but my mortgage broker asked for our scores and said our mortgage provider looks at credit file AND credit score

You need to get a new mortgage broker who knows what he's doing.

Jobyjo

As we are first time buyers we don!!!8217;t know where to start. We thought with his excellent rating we would be ok-ish.

Lots of people have said Aldermore.

[Deleted User]

You need someone who will look at affordability, debts, income and so on - not the pretend scores and ratings.

It would be worth engaging a real broker, rather than one recommended by the developer. A good one will pay for themselves many times over.

Can family or friends recommend anyone?

Jobyjo

All of my family are either renting or got their mortgage years ago. Friends are all renting pretty much!

Feel so down about it all I just don!!!8217;t think our little house will happen