Clydesdale bank FTB. HELPPP

Diamontie

Hi,

Applied for mortgage 95% LTV with Clydesdale Bank today direct after doing AIP online. Spoke with there advisor on the phone today to do our full application which referred (mortgage advisor told me this is normal as high risk mortgage).

I’m just really nervous as have offer accepted on house and just want an idea what to expect from here. Advisor said he will be back in touch no later than Friday with decision. Anyone had this happen?

Will keep this thread updated

JayCeeEssex

Unless you are 100% squeaky clean with ample income for the loan you are applying for, it is pretty much a sure fire guarantee that the application will refer.
You need to be aware that even a minor misdemeanour can throw an application out at 95%...a single late payment on a credit card, exceeding your overdraft limit a couple of times in the last 6 months by a couple of pounds...just a couple of examples that can cause issues. As the Clydesdale bod said it is pretty much to be expected at 95%, but if you don't have excessive unsecured debt and you have a clean credit profile, then you should be OK!