Mortgage broker - ask me anything

CamJen

Can I get a small mortgage ? I have £120000 deposit, the house im looking at is £140000, I would like to take a £30k mortgage over 10yrs or possibly less. Im in a full time job & have been with my company 4+ yrs now. But I have awful credit rating, due to divorce etc. I have defaults on cards and up until recently,  there were mortgage arrears, which did go to court. The mortgage has been settled as the home is sold. I am currently in privately rented accommodation,   and would like to get back on the housing ladder.   I know its more expensive, but I would consider a loan if this would be easier

haras_n0sirrah

CamJen said:

Can I get a small mortgage ? I have £120000 deposit, the house im looking at is £140000, I would like to take a £30k mortgage over 10yrs or possibly less. Im in a full time job & have been with my company 4+ yrs now. But I have awful credit rating, due to divorce etc. I have defaults on cards and up until recently,  there were mortgage arrears, which did go to court. The mortgage has been settled as the home is sold. I am currently in privately rented accommodation,   and would like to get back on the housing ladder.   I know its more expensive, but I would consider a loan if this would be easier

It is going to depend on the credit file. If the mortgage arrears are over 6 months old options become available.

EruditeTheOwl

I'm moving to the UK in the next few months on a Tier 2 General Visa. I'm hoping to buy a home soon after we arrive. I checked my credit history from when I lived in the UK previously and I noticed a settled default on my record of 60 GBP for an internet bill that kept charging me after I left the UK (and have since paid).

This has made me a bit nervous about my chances of getting a mortgage considering my tier 2 status. For reference, I'm able to put 20-25% down for the home purchase.

Any ideas on if this will impact my ability to buy a home? Has anyone had any recent experience getting a mortgage on a Tier 2 visa?

Thanks!

haras_n0sirrah

EruditeTheOwl said:

I'm moving to the UK in the next few months on a Tier 2 General Visa. I'm hoping to buy a home soon after we arrive. I checked my credit history from when I lived in the UK previously and I noticed a settled default on my record of 60 GBP for an internet bill that kept charging me after I left the UK (and have since paid).

This has made me a bit nervous about my chances of getting a mortgage considering my tier 2 status. For reference, I'm able to put 20-25% down for the home purchase.

Any ideas on if this will impact my ability to buy a home? Has anyone had any recent experience getting a mortgage on a Tier 2 visa?

Thanks!

There are some lenders who will consider as long as the default is settled prior to application

EruditeTheOwl

haras_n0sirrah said:

EruditeTheOwl said:

I'm moving to the UK in the next few months on a Tier 2 General Visa. I'm hoping to buy a home soon after we arrive. I checked my credit history from when I lived in the UK previously and I noticed a settled default on my record of 60 GBP for an internet bill that kept charging me after I left the UK (and have since paid).

This has made me a bit nervous about my chances of getting a mortgage considering my tier 2 status. For reference, I'm able to put 20-25% down for the home purchase.

Any ideas on if this will impact my ability to buy a home? Has anyone had any recent experience getting a mortgage on a Tier 2 visa?

Thanks!

There are some lenders who will consider as long as the default is settled prior to application

My credit score came back with 500 (I have very limited credit history and this default is having a very large impact as a result). In your experience, would Halifax or NatWest consider me for an 75% LTV?

haras_n0sirrah

EruditeTheOwl said:

haras_n0sirrah said:

EruditeTheOwl said:

I'm moving to the UK in the next few months on a Tier 2 General Visa. I'm hoping to buy a home soon after we arrive. I checked my credit history from when I lived in the UK previously and I noticed a settled default on my record of 60 GBP for an internet bill that kept charging me after I left the UK (and have since paid).

This has made me a bit nervous about my chances of getting a mortgage considering my tier 2 status. For reference, I'm able to put 20-25% down for the home purchase.

Any ideas on if this will impact my ability to buy a home? Has anyone had any recent experience getting a mortgage on a Tier 2 visa?

Thanks!

There are some lenders who will consider as long as the default is settled prior to application

My credit score came back with 500 (I have very limited credit history and this default is having a very large impact as a result). In your experience, would Halifax or NatWest consider me for an 75% LTV?

The score is relatively meaningless - it is the information contained within which is important. Contact a broker. If you don't have one then you can contact the brokers who post here - we are identifiable by our signatures. We are not allowed to approach posters but we are able to respond to pm's asking for help

peppapig14

Nationwide timescales say 11 days for valuation assessment. we had ours 17/9 and no communication.
Would the 11 days be once the text is received advising valuation report received? 

haras_n0sirrah

It would be once they have report back from the valuer so they may not have had it yet

peppapig14

haras_n0sirrah said:

It would be once they have report back from the valuer so they may not have had it yet

great, thank you 

greenpanda

We are looking to port a santander mortgage but my past two months I've had to borrow money from family due to emergencies (this is very unusual for us). If we move, when will they do the affordability checks? I can't see us passing the affordability checks at the moment - should i wait for three months? I don't want to cause other families to lose their stamp duty relief if we have to break the chain.