Why is this so hard ?

SuseOrm

2 defaults,  settled and nearly 5 years old.  

25% deposit
Earn £50,000 a year plus bonus which i do not want factoring in the calculation.  

Want to borrow £112,000
and have been declined twice. 

MovingForwards

Are the defaults with one of the lenders or a sister company?

Have you used a broker, if so where did you find them?

ACG

It should be possible to place from what you have said. But as MovingForwards says, if you have a default with RBS for example, RBS/Natwest might be a little reluctant to lend to you again. 

There is a lot of additional information needed as the devil is in the detail. But a £10k default on a credit cardit card is not as bad as a £10k default on a secured loan/mortgage. 

You may be looking at 2x income but if it is a 10 year term or you have a load of debt or a football team worth of kids it changes things a little. Its all in the details. But I would still imagine there is an answer there, maybe get your credit reports over to a  broker.

SuseOrm

Defaults with Nationwide £600 and Vodafone £400

SuseOrm

1 child
No debt at all,  credit cards used for insurance only and cleared every month without fail.  

GreenCat80

Have they said why they’ve declined? Did you use a broker? 

SuseOrm

GreenCat80 said:

Have they said why they’ve declined? Did you use a broker? 

I did.  Credit score not high enough for 1,  didnt meet their internal credit score for the other.  

So why did the broker even bother i wonder,  luckily only one out of the two performed a soft search.  It’s now in front of the rugby and Hinkley underwriting board.  Which again concerns me because when I was looking for a mortgage last year was a very firm no from them,  on paper (no searches carried out or discussion).  I just don’t know what to make of it all.    

london21

Good deposit.
Get a broker.
Find out why application were declined before making more applications. 

SuseOrm

london21 said:

Good deposit.
Get a broker.
Find out why application were declined before making more applications. 

I’m suffering with serious trust issues with brokers on the basis that they dont seem to know what the lenders want. 

Can anyone recommend a good one ? 

MovingForwards

SuseOrm said:

london21 said:

Good deposit.
Get a broker.
Find out why application were declined before making more applications. 

I’m suffering with serious trust issues with brokers on the basis that they dont seem to know what the lenders want. 

Can anyone recommend a good one ? 

I approached the one who has relied to this thread and I've been in my home for nearly 2 years now.

SuseOrm

MovingForwards said:

SuseOrm said:

london21 said:

Good deposit.
Get a broker.
Find out why application were declined before making more applications. 

I’m suffering with serious trust issues with brokers on the basis that they dont seem to know what the lenders want. 

Can anyone recommend a good one ? 

I approached the one who has relied to this thread and I've been in my home for nearly 2 years now.

Sorry if im being thick,  whos that please ?