Mortgage Advice?
Mortgage Advice?
Is it me or is the business of lending money over?
I've been wanting to buy a house and here in Nelson you can pick them up between 30k - 45k. Decent 2 bedroom, Living Room, Dining Kitchen house.
Area's not bad either.
But I cant even get a mortgage for that amount !
I have applied through both C&G and Northern Rock, both for 43k.
I have 10% deposit and my credit score is 999, my report does show missed payments but over a year ago. Im on the electrol role as well.
Just cant understand what the issue is, both lenders said credit check failed.
Any advice from anyone? I had one broker who quoted 2k for there services if i was successful in finding a mortgage.
One broker went through the details and found Northern Rock as best deal and wanted me to apply through them, I went to Northern Rock direct and got declined, would it have made a difference if a broker applied on my behalf?
[COLOR="Gray"]December 2008: Crashed Lexus IS200 - Cat B Write Off
August 2009: Crashed Vauxhall Astra - Minor Damage DIY Repair
November 2009: Crashed Vauxhall Astra - Scratches To Bumper No Repair Required
February 2010: Other Party Crashed Into Astra - Extensive Damage To Rear -Settled With Third Party's Insurance
Anyone dare To Predict The Future?[/COLOR]
Hi Everyone,
Is it me or is the business of lending money over?
I've been wanting to buy a house and here in Nelson you can pick them up between 30k - 45k. Decent 2 bedroom, Living Room, Dining Kitchen house.
Area's not bad either.
But I cant even get a mortgage for that amount !
I have applied through both C&G and Northern Rock, both for 43k.
I have 10% deposit and my credit score is 999, my report does show missed payments but over a year ago. Im on the electrol role as well.
Just cant understand what the issue is, both lenders said credit check failed.
Any advice from anyone? I had one broker who quoted 2k for there services if i was successful in finding a mortgage.
One broker went through the details and found Northern Rock as best deal and wanted me to apply through them, I went to Northern Rock direct and got declined, would it have made a difference if a broker applied on my behalf?
[COLOR="Gray"]December 2008: Crashed Lexus IS200 - Cat B Write Off
August 2009: Crashed Vauxhall Astra - Minor Damage DIY Repair
November 2009: Crashed Vauxhall Astra - Scratches To Bumper No Repair Required
February 2010: Other Party Crashed Into Astra - Extensive Damage To Rear -Settled With Third Party's Insurance
Anyone dare To Predict The Future?[/COLOR]
More to the point where have you been mate ???, not seen you on here in a long time !
Lexus IS200 Mods--TTE Supercharger, Tein Superstreet Coilovers & EDFC, 6000K HID Lights, HKS Silent High Power Exhaust, DBA Front Discs, Kenwood DNX9240 Head Unit, 19" Rims, TRD Kit, FIGS Bonnet Struts, Greddy Pillar Pod & Defi Gauges, TTE Red ARBS . And Been To WIM twice
Just go into a bank ask for mortgage , get money , buy a house . Simple
More to the point where have you been mate ???, not seen you on here in a long time !
Lexus IS200 Mods--TTE Supercharger, Tein Superstreet Coilovers & EDFC, 6000K HID Lights, HKS Silent High Power Exhaust, DBA Front Discs, Kenwood DNX9240 Head Unit, 19" Rims, TRD Kit, FIGS Bonnet Struts, Greddy Pillar Pod & Defi Gauges, TTE Red ARBS . And Been To WIM twice
"Life's goal is not to arrive safely at the grave in a well preserved body. But, rather to skid in sideways........
totally worn out and broken, shouting 'Holy ****, WHAT A RIDE!'"
FirebirdPhil
30-04-2018, 10:44 AM #3You need 15% at the moment, for most house loans. Banks are being ultra picky.
"Life's goal is not to arrive safely at the grave in a well preserved body. But, rather to skid in sideways........
totally worn out and broken, shouting 'Holy ****, WHAT A RIDE!'"
Lexus IS200 Mods--TTE Supercharger, Tein Superstreet Coilovers & EDFC, 6000K HID Lights, HKS Silent High Power Exhaust, DBA Front Discs, Kenwood DNX9240 Head Unit, 19" Rims, TRD Kit, FIGS Bonnet Struts, Greddy Pillar Pod & Defi Gauges, TTE Red ARBS . And Been To WIM twice
Only the last part that we are having a problem with !
Lexus IS200 Mods--TTE Supercharger, Tein Superstreet Coilovers & EDFC, 6000K HID Lights, HKS Silent High Power Exhaust, DBA Front Discs, Kenwood DNX9240 Head Unit, 19" Rims, TRD Kit, FIGS Bonnet Struts, Greddy Pillar Pod & Defi Gauges, TTE Red ARBS . And Been To WIM twice
im on 13,250 pay per year, so i dont think thats an issue on a 43k mortgage or is it?
My wife doesnt work, so would be a sole application.
[COLOR="Gray"]December 2008: Crashed Lexus IS200 - Cat B Write Off
August 2009: Crashed Vauxhall Astra - Minor Damage DIY Repair
November 2009: Crashed Vauxhall Astra - Scratches To Bumper No Repair Required
February 2010: Other Party Crashed Into Astra - Extensive Damage To Rear -Settled With Third Party's Insurance
Anyone dare To Predict The Future?[/COLOR]
Sorry Moley, been very busy lately, full time job, trying to pull money together for a decent deposit, if i wait for a bit more while ill be able to scrape together a 15% deposit so may have better luck,
im on 13,250 pay per year, so i dont think thats an issue on a 43k mortgage or is it?
My wife doesnt work, so would be a sole application.
[COLOR="Gray"]December 2008: Crashed Lexus IS200 - Cat B Write Off
August 2009: Crashed Vauxhall Astra - Minor Damage DIY Repair
November 2009: Crashed Vauxhall Astra - Scratches To Bumper No Repair Required
February 2010: Other Party Crashed Into Astra - Extensive Damage To Rear -Settled With Third Party's Insurance
Anyone dare To Predict The Future?[/COLOR]
My sisters went to underwriter and got it, so my hopes are high......
by the way these are the type of houses im looking at....
http://www.nigeldarcy.co.uk/gp1.html
[COLOR="Gray"]December 2008: Crashed Lexus IS200 - Cat B Write Off
August 2009: Crashed Vauxhall Astra - Minor Damage DIY Repair
November 2009: Crashed Vauxhall Astra - Scratches To Bumper No Repair Required
February 2010: Other Party Crashed Into Astra - Extensive Damage To Rear -Settled With Third Party's Insurance
Anyone dare To Predict The Future?[/COLOR]
Sorry forgot to mention I have applied through the post office, and rather then getting a straight decline its been referred to the underwriter so fingers crossed.
My sisters went to underwriter and got it, so my hopes are high......
by the way these are the type of houses im looking at....
http://www.nigeldarcy.co.uk/gp1.html
[COLOR="Gray"]December 2008: Crashed Lexus IS200 - Cat B Write Off
August 2009: Crashed Vauxhall Astra - Minor Damage DIY Repair
November 2009: Crashed Vauxhall Astra - Scratches To Bumper No Repair Required
February 2010: Other Party Crashed Into Astra - Extensive Damage To Rear -Settled With Third Party's Insurance
Anyone dare To Predict The Future?[/COLOR]
Marsdendean also dont apply for too many, as that will decrease your chances.
The more credit searchs on your account the amount of lenders decreases!
yh, one thing which i thought about, the post office is my last application and if the underwriters say no, going to wait till end of year, build up a larger deposit, and see what happens....
[COLOR="Gray"]December 2008: Crashed Lexus IS200 - Cat B Write Off
August 2009: Crashed Vauxhall Astra - Minor Damage DIY Repair
November 2009: Crashed Vauxhall Astra - Scratches To Bumper No Repair Required
February 2010: Other Party Crashed Into Astra - Extensive Damage To Rear -Settled With Third Party's Insurance
Anyone dare To Predict The Future?[/COLOR]
Marsdendean also dont apply for too many, as that will decrease your chances.
The more credit searchs on your account the amount of lenders decreases!
yh, one thing which i thought about, the post office is my last application and if the underwriters say no, going to wait till end of year, build up a larger deposit, and see what happens....
[COLOR="Gray"]December 2008: Crashed Lexus IS200 - Cat B Write Off
August 2009: Crashed Vauxhall Astra - Minor Damage DIY Repair
November 2009: Crashed Vauxhall Astra - Scratches To Bumper No Repair Required
February 2010: Other Party Crashed Into Astra - Extensive Damage To Rear -Settled With Third Party's Insurance
Anyone dare To Predict The Future?[/COLOR]
The FLAT I rent off a mate is valued at £240k, and costs me £750 a month plus (a lot of) bills. Rent is high here, but I could not even consider a mortgage to buy a house in Exeter, they would laugh me out of the bank!
![[Image: tempsig2.jpg]](http://i121.photobucket.com/albums/o227/84stoney/tempsig2.jpg)
ad: It was a tough call to make, but the Supercharged IS200 is being retired. ad:I knew it was expensive down here, but the prices you guys are talking about sound crazy low, I might have to move up there!
The FLAT I rent off a mate is valued at £240k, and costs me £750 a month plus (a lot of) bills. Rent is high here, but I could not even consider a mortgage to buy a house in Exeter, they would laugh me out of the bank!
ad: It was a tough call to make, but the Supercharged IS200 is being retired. ad:2tongues You need 15% at the moment, for most house loans. Banks are being ultra picky.
Some place are offering 95% mortgages for First time buyers but will sting you with 6% interest
Im looking at the moment and getting 85% for around 3.8% which is good.
![[Image: LexuS-Copy.jpg]](http://i65.photobucket.com/albums/h204/Sparkystav/LexuS-Copy.jpg)
Read my thread here: The Evolution of my Turbo Lexus from NA-Supercharged-Twin Turbo-Massive Single
Please leave your comments.
Sparkystav
30-04-2018, 12:32 PM #92tongues You need 15% at the moment, for most house loans. Banks are being ultra picky.
Some place are offering 95% mortgages for First time buyers but will sting you with 6% interest
Im looking at the moment and getting 85% for around 3.8% which is good.
Read my thread here: The Evolution of my Turbo Lexus from NA-Supercharged-Twin Turbo-Massive Single
Please leave your comments.
Good Luck in your search Saraj.
I have heard that Burney and Nelson have low property prices. What kind of areas are these cheaper properties in? Is there much of a rental market?
![[Image: clubbanner.gif]](http://www.ranatech.co.uk/evo/clubbanner.gif)
I am self-employed and before the bank would give me a mortgage I needed 20% deposit.
Good Luck in your search Saraj.
I have heard that Burney and Nelson have low property prices. What kind of areas are these cheaper properties in? Is there much of a rental market?
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