Refused a mortgage because I am a stoozer

obeywan_kenobe

I have been refused a mortgage from C & G because I am a rate tarting stoozer. Even though my equity is in the positive (ie I have enough investment to cover the credit card debts), I was refused. Is this a sign of the times or are banks getting back at stoozers?

gallygirl

Possibly, or maybe just an unusual situation they don't come across often . Whereas they're used to massive CC debt. :eek: .

Would be interesting to hear the view of mortgage advisors.

Suppose the best advise is either see a specialist mortgage advisor (which according to Martin you should do anyway.....) or pay all off & try again in 7 months time.

BTW how much are we talking about?

Karmacat

Hiya
Is that what they told you? That a mortgage was refused because of credit card debt? Can you show them the money lodged safely in other places? Or does that not matter to them?

Otherwise I agree with Ali, see a broker - as Martin advises,a fee free, whole of market one, preferably.

Good luck!

JC_Derby

would seem to be common sense that companies dont want to take a risk on those with exposure to high debts. Its been mentioned that all stoozing activity should be stopped around 6 months before going for a mortgage application..