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Mortgage broker Help!
Annie1111
Posts: 1 Newbie
Hi all,
This is my first post.
So, we have had a sticky credit history and my husband had an IVA started in 2012 and completed March 2018. I was in a DMP started April 2013 and completed July 2018. I have defaults that are due to fall off shortly.
We had an AIP with Halifax and the application was declined. I have appealed on the basis that Halifax is an automatic decline if a dMp was in the last 6 years and they had a note on the system saying it was commenced in May 2013, just in the 6 years. I have a letter from payplan confirming the March 2013 date.
We currently have a mortgage with Halifax and on a equity loan scheme which we want to redeem and move to another property (this is a relocation due to work) and they are also saying that our LTV is jumping up too much from 32% (as we have equity loan) to 85% (Halifax advised us we needed 15% deposit)
Anyway we are in panic mode as our sale is progressing, we have found a perfect home for us which they have accepted an offer and I don’t know where to turn next.
I have looked at simply adverse but their fees are huge.
Can anyone recommend a broker who may be able to help?
Thanks
This is my first post.
So, we have had a sticky credit history and my husband had an IVA started in 2012 and completed March 2018. I was in a DMP started April 2013 and completed July 2018. I have defaults that are due to fall off shortly.
We had an AIP with Halifax and the application was declined. I have appealed on the basis that Halifax is an automatic decline if a dMp was in the last 6 years and they had a note on the system saying it was commenced in May 2013, just in the 6 years. I have a letter from payplan confirming the March 2013 date.
We currently have a mortgage with Halifax and on a equity loan scheme which we want to redeem and move to another property (this is a relocation due to work) and they are also saying that our LTV is jumping up too much from 32% (as we have equity loan) to 85% (Halifax advised us we needed 15% deposit)
Anyway we are in panic mode as our sale is progressing, we have found a perfect home for us which they have accepted an offer and I don’t know where to turn next.
I have looked at simply adverse but their fees are huge.
Can anyone recommend a broker who may be able to help?
Thanks
0
Comments
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Hi there, people are unlikely to recommend specific brokers on here. However,if you can't get recommendations from your friends - Google mortgage brokers in your area, make some calls to them and ask if they deal with credit adverse/more complex cases. If they do,they might ask more about your situation to get a feel of whether they can help you.
This is definitely a job for a broker, so don't worry too much. Call around and see what you find 0 -
The Broker who’s fees you have seen are not the only one with adverse credit experience in the market. Their fees are not representative of the market either, very much at the high end.
It should not be too tricky to find an alternative.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0
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