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Mortgage with defaults
chareverett
Posts: 10 Forumite
Is it possible to get a first time mortgage with 5 defaults between us, the latest one was 2015. They are from us joining Stepchange but because of inheritance we have been able to pay all debt off and have a large deposit.
Went to a broker and got turned down for HSBC straight away, he's offered Precise but should I do my own research?
Went to a broker and got turned down for HSBC straight away, he's offered Precise but should I do my own research?
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Comments
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From HSBC to Precise?
Wow, that's one hell of a journey with no stops along the way.
What's the loan to value?I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
From the lofty mainstream standards of HSBC straight to a specialist lender like Precise. What kind of cowboy broker is this?!
Yes it may be possible to get a mortgage with 5 defaults between you, BUT the details matter. I would advise you to get a second opinion from a decent broker.
If you would like a rough idea of your chances and feel comfortable doing so, please share - House price, deposit, income, details of defaults (dates, amounts, type, etc)chareverett wrote: »Is it possible to get a first time mortgage with 5 defaults between us, the latest one was 2015. They are from us joining Stepchange but because of inheritance we have been able to pay all debt off and have a large deposit.
Went to a broker and got turned down for HSBC straight away, he's offered Precise but should I do my own research?0 -
It sounds like there has also been a DMP if you are mentioning stepchange?
As Kingstreet says, HSBC to Precise does seem like a big jump. Personally I would have tried it with another high street lender before going to Precise, one who is a little more forgiving than HSBC, but some of Precise' rates are not too bad.I am a Mortgage AdviserYou 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.0
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