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Feeling deflated.
Slou123
Posts: 77 Forumite
Our mortgage advisor tried a lender for us today (adverse lender due to some past defaults) they reject the application due to my partner being on probation still- unsure if lender but he’s said he hasn’t given up and there’s others he can look at. Am I stuffed? I don’t want to lose the chance of my dream home
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How long is the probation and how far into it is he?0
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@slou123 Unfortunately, unlike mainstream lenders, adverse/specialist lenders are more picky about applicants being on probation. Once you've been in the job for 3+ months and can demonstrate a minimum 12 months continuous employment history, more specialist lenders should come into the picture, though obviously it depends on whether it matches your adverse details. Good luck, hope you broker is able to sort you out!Slou123 said:Our mortgage advisor tried a lender for us today (adverse lender due to some past defaults) they reject the application due to my partner being on probation still- unsure if lender but he’s said he hasn’t given up and there’s others he can look at. Am I stuffed? I don’t want to lose the chance of my dream homeI 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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Thank you- he’s been in employment over ten years continuously , this job three months. My credit file is some defaults (2 in the last three years) and a couple of more previously..i hope so too- in a two bed flat with two kids is no fun!!!!K_S said:
@slou123 Unfortunately, unlike mainstream lenders, adverse/specialist lenders are more picky about applicants being on probation. Once you've been in the job for 3+ months and can demonstrate a minimum 12 months continuous employment history, more specialist lenders should come into the picture, though obviously it depends on whether it matches your adverse details. Good luck, hope you broker is able to sort you out!Slou123 said:Our mortgage advisor tried a lender for us today (adverse lender due to some past defaults) they reject the application due to my partner being on probation still- unsure if lender but he’s said he hasn’t given up and there’s others he can look at. Am I stuffed? I don’t want to lose the chance of my dream home
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