Bad Credit - Precise Mortgage.

On_my_way

Toodlepips said:

Thanks for the comments guys.
Honestly, we don’t mind the interest rate aslong as we have our home. If precise decline us am I right in thinking we have exhausted our help to buy options with bad credit? Vida, Aldermore and precise. I didn’t think there were any other go tos? My broker basically said it was the end of the road if precise decline 😫

Also you can act NOW by not having takeaways etc and using that money to pay off any debts that you have and getting rid of any used overdrafts.

Thrugelmir

Toodlepips said:

Affordability we are fine... its just the credit managing that we seem to be failing on. 

How well you manage your personal finances is a key part of how a lender will view your application. A CCJ brings into question how well you do manage them and whether affordability maybe an issue at some point of time. 

Toodlepips

Agreed 100%, I understand that we don't look like the best of borrowers on paper.
I am starting to wonder why they have offered us the 4.74% htb mortgage as the criteria for that is 2 defaults and 1 ccj.
Is this what they offer when all details are submitted or would our broker have applied for that one on aip? 

DCFC79

Id use some of the money from the gift to pay the debts off and also look at your spending, ditch the takeaways and start putting money away.

Toodlepips

I am happy saving money however we don't have the luxury of time on our side unfortunately.
Obviously we have stopped spending on any luxuries like that and shopping ect and are making chunks of payments to the debt.
I could take it from the deposit but then we would need the time to save it back up again, would it make much of a difference if we paid them off in full or would they just see it as something we have done to gain a mortgage? 

lou1988

You need to use Simply Adverse, I've used them twice, they are far more expensive than other brokers, you only pay them when you accept the mortgage offered to you though.

Google their trust pilot reviews.

Toodlepips

Thanks for the recommendation Lou1988.

We tried them, the adviser said he couldnt help us but gave no reasons why. 

MovingForwards

Toodlepips said:

Thanks for the recommendation Lou1988.

We tried them, the adviser said he couldnt help us but gave no reasons why. 

Why do you not approach one of the brokers who are members of this forum?

There is one who specialises in H2B.

Toodlepips

*UPDATE* 
Precise have come back and asked for Januarys payslip, bank statement, P60 and my employers landline number. 
Hubby is struggling to find his P60, any advice? Would they accept last 12 months payslips? 

MovingForwards

Toodlepips said:

*UPDATE* 
Precise have come back and asked for Januarys payslip, bank statement, P60 and my employers landline number. 
Hubby is struggling to find his P60, any advice? Would they accept last 12 months payslips? 

What has the broker advised?

Your OH can get a statement of earnings from HMRC, but it could take a week or two to arrive.

Has he asked his HR department of they can print another copy for him?