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Can't get a mortgage, need advise!
Options
Edforce1
Posts: 18 Forumite
I am looking for advise on how to go about getting a mortgage. I recently returned to the UK (2019) after working abroad for 9 years.
When I returned and did a credit check on myself and found I did not exist and had no credit file.
Nearly 18mths later I have minimal debt £600 (phone contracts) have a good credit rating with clear score but can not get a small mortgage.
I went to a broker who did a search and I got refused. I offered a 10% deposit on 130k. The broker did not do adverse credit searches only the high street. He was at a loss as to why I got refused. I am on the electoral register, in full time employment and no blips on my file.
Could someone advise how I could proceed if possible. I am currently renting and it's to small for my family.
Regards
Karl
When I returned and did a credit check on myself and found I did not exist and had no credit file.
Nearly 18mths later I have minimal debt £600 (phone contracts) have a good credit rating with clear score but can not get a small mortgage.
I went to a broker who did a search and I got refused. I offered a 10% deposit on 130k. The broker did not do adverse credit searches only the high street. He was at a loss as to why I got refused. I am on the electoral register, in full time employment and no blips on my file.
Could someone advise how I could proceed if possible. I am currently renting and it's to small for my family.
Regards
Karl
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Comments
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@edforce1 If you're a UK passport holder, have been resident here for 2+ years (you mention returning in 2019) you should have options. If high-street DIPs are failing then perhaps consider a lender that doesn't 'credit-score'. What is the broker suggesting as a next step?
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.
PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.
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He was at a loss as to why you were declined?! He should maybe go and choose a different career.
You do not need adverse lenders, to be honest they would probably decline you anyway as they will typically want a 3 year UK address history.
A little building society would probably do this all day long.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.1 -
Thank you both for your advice. I am a UK passport holder and British Citizen and the broker has not made a suggestion. Which little BS would you be suggesting?0
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It depends on the details of your case.
I think I sent a case to Coventry pre covid where the customer had only been in the UK for 18 months. But he had kept a UK bank account open whilst he was in Dubai.
Im not sure they would be the lender for you as I think there are differences between that case and yours, but hopefully you get the idea.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 -
Brilliant, thank you, I didn't retain a UK bank but did stay on the electoral register. Been in touch with a few brokers and hopefully they can help.1
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