Mortgage offer withdrawn - exceeding overdraft!

Conrad

Many lenders will want 3 years credit history in the UK so I cant see how A & L offered you anything.

HSBC is worth a try - brokers cannot access this lender. They will likely ask for Bank statements. The reason lenders want well mamanged accounts is that this is the best indicator you will pay on time and in full each month - they dont want people who say cheques cross in the post or passed each other within 24 hours as they themselves wouldnt operate thier own private accounts so close to the wire - as that would only ever be a result of disorganisation (ie not building up a nice cushion to ensure you dont go into unauthorised od).

Dan_Collins_2

C&G will do 100% but no more than 100% as long as your score is ok, being EU you should have a british and EU passport. A&L like a 18 months history I believe may be two years.

If your score is good enough C&G wont ask for bank statements. If you are in Hertfordshire the Hitchin branch are very good, they have closed a lot now but they kept Hitchin going!

herbiesjp

Mamohau wrote: »

What's the difference between a broker and mortgage adviser?

We did actually apply to NR (I think they said no) and A&L and I think they said 97%. It's that remaining 4% that is the problem. We could wait a year and save that up I suppose - just that we looked for 6 months before we found this house which meets our needs almost exactly. We approached my bank with me as first named and consolidating my current loan with a new one; on the basis of my salary (around £23k+) it was refused.

Another option could be a secured loan which is taken out at the same time as exchange. Or perhaps we could get the seller to drop £10,000 - in fairytale land!

We went into this on the advice of brokers who said that we should be able to get a mortgage of upwards of £275k! So I thought this would be assured at £245k, innocent that I am.

Without knowing your full set of circumstances it is difficult to be certain, however I am sure you should be able to find a replacement lender to put this with. Can your adviser not appraoch the other lenders to verbally discuss your options?