Anybody had a mortgage from Skipton recently?

wharty
wharty Posts: 426 Forumite
in Bankruptcy & living with it
Just wondering if anybody here has had a mortgage from Skipton recently? We will be discharged 4 years in June and hoping to go with them. Do they still use Call Credit for searches
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Comments

  • ACG
    ACG Posts: 23,717 Forumite
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    I think they have started using other credit reports on occasions (probably for ex bankrupts) in addition to call credit.

    There may be other lenders open to you also, but well done on finding them. I would put money on not many brokers knowing they are an option after 4 years. They are not great with adverse in my opinion, so just bare in mind that fitting criteria does not necessarily mean you will be accepted.

    It will most likely refer, nothing to worry about as such just standard practice from memory.
    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.
  • wharty
    wharty Posts: 426 Forumite
    ACG wrote: »
    I think they have started using other credit reports on occasions (probably for ex bankrupts) in addition to call credit.

    There may be other lenders open to you also, but well done on finding them. I would put money on not many brokers knowing they are an option after 4 years. They are not great with adverse in my opinion, so just bare in mind that fitting criteria does not necessarily mean you will be accepted.

    It will most likely refer, nothing to worry about as such just standard practice from memory.

    Thanks, I have just found Darlington building society and they seem to fit the bill but they will require 70% LTV.

    Here's what they say...

    DEFAULTS: Not accepted whilst unsettled. Settlement evidence will be required. Applicant’s with one or more defaults within the last three years with a value greater than £500 will not be accepted.

    BANKRUPTCY: A discharged bankrupt person will be considered providing evidence shows the discharge occurred a minimum of three years ago. Chief Executive approval required. Max 70% LTV.

    CREDIT CHECKS: The Society does not operate a system of credit scoring. Applicants are credit checked using Equifax and all applications receive the individual personal consideration of an underwriter.

    This all seems very promising and I think we could stretch to 70% LTV.

    The rate would be 2.49% on a 5 year fix.
  • ACG
    ACG Posts: 23,717 Forumite
    First Anniversary Name Dropper First Post I've helped Parliament
    As mentioned there are a few other lenders, some will top out at around 75% others theoretically 90%, but realistically probably 85% LTV.

    It will all come down to how everything appears on your credit report(s) as to who is actually available. I am not saying Skipton are not an option btw. Just that if you have defaults galore due to the bankruptcy and bankruptcy then even at 50% LTV it is unlikely they will accept you despite everything being technically part of the bankruptcy.
    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.
  • wharty
    wharty Posts: 426 Forumite
    ACG wrote: »
    As mentioned there are a few other lenders, some will top out at around 75% others theoretically 90%, but realistically probably 85% LTV.

    It will all come down to how everything appears on your credit report(s) as to who is actually available. I am not saying Skipton are not an option btw. Just that if you have defaults galore due to the bankruptcy and bankruptcy then even at 50% LTV it is unlikely they will accept you despite everything being technically part of the bankruptcy.

    Thanks ACG. On our Experian we have everything up to date but there has been an issue with how they have been updated.

    The update date was entered as the date the creditors updated the default and satisfaction dates (last month) but this had the effect of carrying the default balance through to February this year.

    We have spoken to Experian and complained and hopefully sorting it.

    Equifax and Call Credit had the update date as the date of discharge which is fine and no balances have carried on from the date of discharge.

    We were turned down by Nationwide last month because of this.

    What is your experience with Yorkshire building society?

    They seem to fit with us too but we would ideally like to speak with an underwriter to explain Experian if possible?

    I'm hoping they use Equifax and Call credit to be honest!

    Thanks
  • ACG
    ACG Posts: 23,717 Forumite
    First Anniversary Name Dropper First Post I've helped Parliament
    YBS do not deal with brokers, I have used their subsidiary Accord Mortgages in the past - there is only one lender I refuse to use and it is them. I have been told they have improved recently but I have not heard enough positive stories to overcome the..."torture" they put me/my customers through on a couple of applications.
    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.
  • wharty
    wharty Posts: 426 Forumite
    ACG wrote: »
    YBS do not deal with brokers, I have used their subsidiary Accord Mortgages in the past - there is only one lender I refuse to use and it is them. I have been told they have improved recently but I have not heard enough positive stories to overcome the..."torture" they put me/my customers through on a couple of applications.

    Ok thanks, does that mean my mortgage would be with Accord if I used YBS or do YBS do it themselves too?
  • ACG
    ACG Posts: 23,717 Forumite
    First Anniversary Name Dropper First Post I've helped Parliament
    If you apply directly, it would be through YBS.
    If you apply through a broker, it would be through Accord.
    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.
  • wharty
    wharty Posts: 426 Forumite
    ACG wrote: »
    If you apply directly, it would be through YBS.
    If you apply through a broker, it would be through Accord.

    You have been brilliant ACG and a great help. Thank you very much!
  • ACG
    ACG Posts: 23,717 Forumite
    First Anniversary Name Dropper First Post I've helped Parliament
    No problem - I learnt something new on here the other day about new builds. Its a good site to learn and help :)
    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.
  • hvhv
    hvhv Posts: 5 Forumite
    Do your research like I did. I was made bankrupt in May 2013, discharged in 2014 and got a 85% LTV mortgage with Yorkshire BS in October 2017. As soon as I was discharged, I went on a mission to sort my credit file out and clearing the defaults etc. I had 2 CCJs which were incorporated into the bankruptcy. There are loads of building society names being banded around (including Skipton) on previous threads. I rang them and they said no straightaway. Newbury said yes initially but then the underwriter said no. Mansfield said yes but were going to charge an extortionate interest rate of around 5%. Nationwide were umming and aahing saying they will need to take it to the underwriter and will do a hard search credit score before making a decision. Apply directly with the building society online/ phone (not through branch), get a free Experian report and type up a letter explaining the circumstances of why you went bankrupt. Make sure it is not older than 30 days so that the underwriter can review it without doing a hard search on your credit file. I got an AIP straight away and when the application was submitted, I was in direct contact with the underwriter and he was brilliant. He asked me loads of questions including how far is my workplace etc. but was satisfied with my answers. 4 weeks later, I got my mortgage offer. *TIP - Ask each lender if they can look at your recent Experian report beforehand as they will look at it and as long as it matches up with their search which they conduct prior to offer, you should be ok.
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