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Specialists Lenders

SHV84
SHV84 Posts: 9 Forumite
First Anniversary First Post
in Mortgages & endowments
Hi
Has anyone recently applied for a mortgage with a specialists lender in the last few weeks, in particular Aldermore? We were declined for a mortgage this week with Natwest but keen to try another lender if possible. Will try to contact our broker tomorrow to see what our options are but wondered if anyone had any insight into what specialists lenders are taking on new applications.
Thanks

Comments

  • Carl2510
    Carl2510 Posts: 537 Forumite
    Sixth Anniversary 100 Posts Name Dropper
    Any reason why you got rejected by Natwest?
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Why pick NatWest for the initial application? 
  • blue_max_3
    blue_max_3 Posts: 1,194 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Did you go through a broker, as you mentioned you had one? Hopefully he will have a better insight. Be very careful now as you could blight your credit file if you keep getting rejected.
  • SHV84
    SHV84 Posts: 9 Forumite
    First Anniversary First Post
    Hi blue max, yes we have a broker, before our original application we discussed going with an adverse lender if we fail with high street but seems that the specialist lenders are not available at the moment although we think we possibly misunderstood what he meant but will hopefully get to speak to him tomorrow. Just to add he is going to appeal the decline with Natwest as he feels we have a strong application. 
  • MovingForwards
    MovingForwards Posts: 17,166 Forumite
    10,000 Posts Seventh Anniversary Name Dropper Photogenic
    What adverse is showing on your credit history?
    Mortgage started 2020, aiming to clear 31/12/2029.
  • ACG
    ACG Posts: 24,729 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Specialist lenders are available, but they have generally capped the maximum LTV to around 75% LTV - although there is one or 2 who will go above that. 
    I am a Mortgage Adviser
    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.
  • SHV84
    SHV84 Posts: 9 Forumite
    First Anniversary First Post
    Thanku ACG that's very helpful, we have a substantial deposit so our LTV is well below 75% so hopefully we'll be able to sort something out. 
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