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Low credit mortgage

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Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Rhihughesss wrote: »
    My mortgage advisor had said they are more likely to accept at 85% as most lenders would want a credit score of excellent if your are borrowing 90%.

    Get a new broker. Yours is unfortunately an idiot.
  • Rhihughesss
    Rhihughesss Posts: 7 Forumite
    Okay thank you for the advise as I am starting to panic now! She said she will be back in touch on Monday so I will let you know the outcome
  • csgohan4
    csgohan4 Posts: 10,600 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper Photogenic
    Rhihughesss wrote: »
    Okay thank you for the advise as I am starting to panic now! She said she will be back in touch on Monday so I will let you know the outcome

    So are they from estate agents?
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ Bowlhead99 RIP
  • Rhihughesss
    Rhihughesss Posts: 7 Forumite
    Hi,

    No sorry they aren’t
  • Verix
    Verix Posts: 241 Forumite
    Sixth Anniversary 100 Posts Combo Breaker
    Unfortunately there can be bad advisers in small independants, huge national brokerages or estate agents.

    It sounds to me like the lady you've been speaking with is hunting the rates for you rather than thinking about your actual circumstances. Nationwide can be good for people in your situation but not always.

    If you can put 15% deposit down you will get better rates than 10% so should be considered. However if that is going to stretch you too far there are definitely alternatives that can be looked at.
    I am a Mortgage Adviser
    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.
  • Rhihughesss
    Rhihughesss Posts: 7 Forumite
    Okay I will speak to her on Monday and see what she can do for me. She is quite positive we will get one but it’s such a knock back that we’ve been declined. So frustrating as we do currently live In the house we will live in. Long story cut short I bought this property with my ex partner a long time a go but I’m wanting to buy him out with my new partner
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