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Lenders constantly changing
LMJ10
Posts: 232 Forumite
We’ve had 3 DIP since August, all been invalid due to the lender changing the criteria, never been able to go for a full application as we haven’t sold and found a house yet. But now with the lenders changing constantly we have no products to look at! So frustrating!
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Comments
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Stop doing DIPs, get a broker when you are in a position to buy and they will place you with the most suitable lender.
What is it about your circumstances which makes fitting criteria an issue?Mortgage started 2020, aiming to clear 31/12/2029.0 -
We were looking at new builds but couldn’t reserve without a DIPMovingForwards said:Stop doing DIPs, get a broker when you are in a position to buy and they will place you with the most suitable lender.
What is it about your circumstances which makes fitting criteria an issue?
we have adverse credit so we don’t fit the conventional lenders
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You had a DIP - you dont need another just because criteria has changed. Worry about the lender closer to the time.
Criteria is changing daily and will continue to. If you have not found a property there is no point in getting a DIP.
If you have adverse, you are presumably looking at lenders who are cirteria driven rather than credit score driven.
When you find somewhere then see if there is a lender available on the day.I am a Mortgage AdviserYou 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.0
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