Loughborough Building Society Fresh Start 100% Mortgage

WatchMeNayNay

Hello There


Just popping on to ask if anyone has had much experience with the Loughborough Building Society and particularly their Fresh Start 100% Mortgages?


Me and my partner are about to submit our full app for one over the next few days and I haven't found a much in the way of reviews of this particular mortgage online, so interested in any feedback anyone may have?


We are working with a fab broker and we had our agreement in principle, which I completely understand is not a lending decision and after having a nosy through the Loughboroughs lending criteria, I personally can't see any reason why we wouldn't be accepted but mortgages always give you that niggle in the back of your brain don't they?


We both have excellent credit scores and reports with no missed payments, CCJ's etc, however I was on a debt management plan a number of years ago, which has been closed and settled more than 3 years ago now, my partner had some missed payments back in 2014 however those accounts have since been settled and closed for a number of years, he is also self employed (has three years worth of SA302's), we both have some unsecured lending.



This mortgage suited our needs as we were able to secure the deposit as collateral on my parents property (we are both in our mid to late 30's, with children and have struggled to save a deposit whilst spending so much in rent).



So yeah, I am just interested to hear of anyone's experience with this lender and this particular mortgage really? How did you find the process, were you/weren't you accepted? Also if anyone knows if they are a particularly tough lender to be accepted by? I completely understand that your experience does not mean that will mean the same for us, if we will/won't be accepted.



Sorry for the essay and thanks for any input!

ACG

Not that product but we have used Loughborough twice in the last 3-4 months. Cant fault them. Easy to work with and a relatively common sense lender albeit a little risk averse.

If you are pushing a few boundaries, they may not like it but in the main I quite like them.

WatchMeNayNay

That's really helpful, thank you. Because we have a bespoke set of circumstances (self employed partner, old adverse, and some unsecured lending) we really needed a lender who could take a sensible look at us.

We can more than afford the mortgage, it's just the odd little bits that make the main high street lenders not want to look twice at us...

WatchMeNayNay

Just jumping back on this thread for a quick question if anyone can help.


Our app was submitted on the 17th Jan and the Loughborough did a hard search on that day.


The app was then with underwriters week of the 20th Jan.



They then did a valuation on 27th Jan (all ok) and have since done the valuation on my parents property (as it is being used as security) on 30th January.


What I have noticed is, they have done an additional hard search on both mine and my partners credit files on the 31st January.


Is it normal for 2 hard searches to be performed?