Need a mortgage ,been refused twice

luckyfool

needamortgage wrote: »

hi thanks for all the replies,

help where i can, approx £23,000 joint income,looking to borrow £73,000

luckyfool:: they were the two ,and do have a mortgage,it is well conducted ,no late payments or missed payments ever.

dan:: i know youre not judging, well the thing is the savings we would make on petrol were going towards the mortgage payment ,so we wouldnt have been having to look for that extra each month,

Thats one of the reasons for moving, there are other reasons,we did try a year ago but there was nothing on the market in my area that we could have afforded until now,

I will keep trying ,but i think theres no hope left really :-( Will keep trying though

Thanks everyone

Based on the figures you are giving then in principle there are a couple of lenders that would look at you for 85%. Of course I don't know if the brokers you have spoken to before now have already looked at this route for you, or whether they have taken one look at it and given up because the state of the mortgage market just now makes it difficult to place cases such as yours.

If you definitely want to buy then you should speak to another Whole of Market broker with some experience in this area who can get you a definitive answer on whether something is available. Of course I would also echo Georgeous Georges point that you should also consider the alternative of taking a step off the property ladder for a period and renting.

Luckyfool

Conrad

Ive come up against an issue where a DMP is in place;

F National offered a mortgage however a condition was that the DMP company (CCCS) confirm in writing they are happy for clients to move home even though the DMP debt will not be reduced from the house sale. CCCS refused stating they could end up in litigation with creditors and be seen to be endorsing its ok for people to move home and carry on regardless of all the debt owed.

It fell through.

luckyfool

Conrad - How recently was this case? It's standard practice for the lender to require permission from an IVA supervisor, but I haven't heard of First National requiring it on a Debt Management Plan.

Imani

Hi I hope you do get to move I know what its like to to be stuck where you do not want to be

have you tried abbey, one of the advisors told me that they still offer 95% mortgages. If I had my deposit ready I would have applied but my time is not yet.

If renting is equal to mortgage why bother rent thats the way I see it

Good luck

luckyfool

Imani - he is in a Debt Management Plan, Abbey will not touch the case at 85% never mind 95% just now.

Imani wrote: »

Hi I hope you do get to move I know what its like to to be stuck where you do not want to be

have you tried abbey, one of the advisors told me that they still offer 95% mortgages. If I had my deposit ready I would have applied but my time is not yet.

If renting is equal to mortgage why bother rent thats the way I see it

Good luck