Can I get a mortgage right now?

M1981

Hello everyone,

I have spoken to a few brokers and am a little anxious whilst waiting to hear back so wondered if anyone would know the answer to my question?

My situation is this:

I want to buy a property on a 95% mortgage
I have good credit
I am in full time employment and have been in my current job for 3 months
However I was out of the country for around 2 years and returned to the UK 4.5 months ago (coming back and forth) I am a UK citizen/ born and raised in the UK.

Would this prevent me from being able to get a mortgage, as I spent so long out of the country?

ACG

There is 1 lender I know of who would probably be ok with it. I dont think you will be getting a high street lender but there is some potential on the face of it.

[Deleted User]

If you can wait a few months then natwest would consider with 6 months employment history. If you moved straight from employment abroad to employment here you could probably apply sooner. They have no real minimum term in the UK as a requirement and only require you to be here long enough for them to do a meaningful credit check.

I'm sure there are others but can't think off the top of my head just now.

Skipton are another who will do at 6 months in theory.

If you are desperate there are probably options. If you can wait til 6 months you have more options

M1981

Which lender is that?

ACG

I dont think were allowed to name lenders.
Hopefully your broker will find someone

[Deleted User]

ACG wrote: »

I dont think were allowed to name lenders.

I had always thought that, but couldn't find anything about it in the rules/code of conduct

https://forums.moneysavingexpert.com/discussion/325378/mse-coms-mortgage-adviser-code-of-conduct

LRmortgage

If you kept all your UK accounts, credit etc open when you were out of the country then you might have a better chance of sorting this sooner rather than later.

It all depends on whether there is enough data on your credit file for the lenders internal scoring.

M1981

Hello

Yes I kept all of my credit cards etc open and continued making payments on my credit cards whilst I was away. I did fly back and forth many times during this time period, however I was aboard for around 80% of the time period.

ACG

Deleted_User wrote: »

I had always thought that, but couldn't find anything about it in the rules/code of conduct

https://forums.moneysavingexpert.com/discussion/325378/mse-coms-mortgage-adviser-code-of-conduct

I was thinking more about from a compliance perspective. There is/used to be a thing called "leading" which meant you could be held as offering advice even if you were just trying to help.

Although after that daft FCA announcement last week, the rules appear to have been relaxed. I am still a little reluctant, who knows if/when the wind will change...I mean the FCA will change their mind again.

kingstreet

I can think of at least two high street lenders who will lend. The question is will they lend at 95%? It will depend on the overall case quality to which LR has alluded.