"You've no chance of getting a mortgage" - Help?
Discussion
BigGingerBob said:
Thank you, that's somewhat reassuring.
So the key is so save a huge deposit and try and get your credit rating as good as possible? Just as I thought. I won't miss any more payments!
Your deposit doesn't need to be huge at all. It might just mean that you are limited to perhaps 90% products rather than being able to look at 95% rates, or 85% products instead of 90% products etc etc.So the key is so save a huge deposit and try and get your credit rating as good as possible? Just as I thought. I won't miss any more payments!
And yes, don't miss ANY payments. The further back into your history the less problems they will cause you. Lenders will have lending criteria that they don't publicise such as "no missed payments in the last 2 years" or "no missed payments in the last 4 years" depending on that lenders appetite to risk etc so the more historical your issues are, the better your chances of being accepted will be!
TroubledSoul said:
house is exceptional
As the TV program was titled, this is definitely about the best advice I ever took "Location, Location, Location" 
Unfortunately I've only ever driven through any of the places you've mentioned, but South Milford and Sherburn in Elmet etc are where I'd go if the alternative was Crossgates. Although at least in Crossgates you're a lot closer to city amenities, kinda depends on if you like city or country living?
TheAllSeeingPie said:
As the TV program was titled, this is definitely about the best advice I ever took "Location, Location, Location"
Unfortunately I've only ever driven through any of the places you've mentioned, but South Milford and Sherburn in Elmet etc are where I'd go if the alternative was Crossgates. Although at least in Crossgates you're a lot closer to city amenities, kinda depends on if you like city or country living?
Well the thing in its favour is that I lived literally a few streets away until two years ago and so know the area. As a result I also know to avoid the nearest pub! I want to go more rural as it's like that where I am now. Unfortunately I've only ever driven through any of the places you've mentioned, but South Milford and Sherburn in Elmet etc are where I'd go if the alternative was Crossgates. Although at least in Crossgates you're a lot closer to city amenities, kinda depends on if you like city or country living?
The house is great though and also has potential for a loft conversion, but we need to see inside it. I wouldn't have any problem living here, but I do prefer one of the others more.
That reminds me, last night when looking around I spotted a possible genuine E30 Alpina underneath a pile of stuff in one of the neighbouring garages.....
Will have to investigate that
Right then, Sarnie - needs some help.
I have a decent depoist and a decent credit history. No missed payments or defaults. I am also an IT contractor.
My accountant, after being advised by me, has always submitted company returns which are relatively low to avoid paying more tax. Which seems to be affecting the amount I can borrow. I would like to go up to 60/70% of loan value.
Is this possible?
I have a decent depoist and a decent credit history. No missed payments or defaults. I am also an IT contractor.
My accountant, after being advised by me, has always submitted company returns which are relatively low to avoid paying more tax. Which seems to be affecting the amount I can borrow. I would like to go up to 60/70% of loan value.
Is this possible?
It had a load of stuff piled on it! I saw the front air dam and the presence of stripes along the top edge of the wing and I was like "oh my god! That's an E30 Alpina!!".
Yes, I'm very sad!
Tempted to go knock on the door after the viewing on Sat and ask about it. Never done anything like that before though!
Yes, I'm very sad!
Tempted to go knock on the door after the viewing on Sat and ask about it. Never done anything like that before though!
AndStilliRise said:
Right then, Sarnie - needs some help.
I have a decent depoist and a decent credit history. No missed payments or defaults. I am also an IT contractor.
My accountant, after being advised by me, has always submitted company returns which are relatively low to avoid paying more tax. Which seems to be affecting the amount I can borrow. I would like to go up to 60/70% of loan value.
Is this possible?
Figures dependant, yes.I have a decent depoist and a decent credit history. No missed payments or defaults. I am also an IT contractor.
My accountant, after being advised by me, has always submitted company returns which are relatively low to avoid paying more tax. Which seems to be affecting the amount I can borrow. I would like to go up to 60/70% of loan value.
Is this possible?
Feel free to PM/Email me!
Sarnie said:
Figures dependant, yes.
Feel free to PM/Email me!
Do it! Feel free to PM/Email me!
BTW what's your tipple? I'd like to send you something once this is all sorted as a thanks for your hard work. I know you get a fee etc. but we'd have had to pay that anyway. I'd prefer to send something more personal in addition
TroubledSoul said:
Do it!
BTW what's your tipple? I'd like to send you something once this is all sorted as a thanks for your hard work. I know you get a fee etc. but we'd have had to pay that anyway. I'd prefer to send something more personal in addition
Crystal Champagne BTW what's your tipple? I'd like to send you something once this is all sorted as a thanks for your hard work. I know you get a fee etc. but we'd have had to pay that anyway. I'd prefer to send something more personal in addition
On a serious note, there's a long way to go yet, lets concentrate on you finding a property first!
Soov535 said:
Sarnie said:
jonah35 said:
Its amazing how people miss bills and think they will be fine! Good luck though.
Hopefully the OP won't mind me posting but contrary to what he was told by the previous "advisor", who obviously just couldn't be bothered, we had an AIP accepted for the OP yesterday - APPLAUSE*
TroubledSoul said:
Looking at the areas around us. Couple we like in South Milford, one in Cawood, one in Cross Gates/Whitkirk which I'm not as keen on from a location perspective, though I did used to live a couple of streets away and the house is huge, one in Brotherton which again, I wasn't keen on as an area but the house is exceptional, and there's a couple in Sherburn In Elmet too.
I live in Micklefield currently so very close to Sherburn and South Milford.
I have somewhere in Fairburn for sale.I live in Micklefield currently so very close to Sherburn and South Milford.
Email me if you'd like more details
For the past year i was struggling to get anything like credit cards mortgages etc and thought it was due to my lack of credit experience as i have never knowingly missed a payment ever. The absolute best rate i could get on a credit card was 49.9% APR.
Anyways on my last visit to the bank mortgage advisor went through my credit report to point out any problems. They are not supposed to do this but she could tell i was getting frustrated at being turned down everywhere and pointed out a black mark from a "telecoms" company.
Turns out virgin media cocked up the cancellation of services on an old address and i owed them.........£36!!!
The poor girl on the end of the phone at VM got some abuse but they rectified their mistake and now i have no credit problems whatsoever.
Those cretins had stopped me purchasing my home over a 2 year old unpaid bill of £36. Just goes to show the power of having a squeaky clean report.
Anyways on my last visit to the bank mortgage advisor went through my credit report to point out any problems. They are not supposed to do this but she could tell i was getting frustrated at being turned down everywhere and pointed out a black mark from a "telecoms" company.
Turns out virgin media cocked up the cancellation of services on an old address and i owed them.........£36!!!
The poor girl on the end of the phone at VM got some abuse but they rectified their mistake and now i have no credit problems whatsoever.
Those cretins had stopped me purchasing my home over a 2 year old unpaid bill of £36. Just goes to show the power of having a squeaky clean report.
There's a great difference between missing a payment or two, or making them late, and being a serious credit risk. I'm sure the right mortgage broker will know this and be able to work around it for you.
I had a major energy provider fail to send me a bill for six months, then when I called to query, sent it to the wrong address. So of course I missed the due date. Cue nasty letter (to the right address) and me making a strongly worded phone call to get it sorted. They can be b
ds.
I had a major energy provider fail to send me a bill for six months, then when I called to query, sent it to the wrong address. So of course I missed the due date. Cue nasty letter (to the right address) and me making a strongly worded phone call to get it sorted. They can be b
ds. Edited by speedysoprano on Saturday 20th September 20:16
Sarnie said:
In 2014, no criteria trumps any other criteria. You could be buying a £1m property, have a £950k deposit, earn £200k per year, but if you fail the credit score thats it, no overiding that.
Yeah, but how you gonna fail the credit score? Sure, you might already have £10m of other debts but in that case it's probably right to fail the score. Can't see a problem with that.
Well today we completed on our new home. What a feeling!
I honestly can't thank Sarnie enough for all he has done for us. Without his help, none of this could have happened.
We've certainly had to jump through some hoops on this, but he's been amazing and assisted us every step of the way.
Huge, huge thanks to him. I'd recommend him to anyone after this. Now the hard work begins.....
I honestly can't thank Sarnie enough for all he has done for us. Without his help, none of this could have happened.
We've certainly had to jump through some hoops on this, but he's been amazing and assisted us every step of the way.
Huge, huge thanks to him. I'd recommend him to anyone after this. Now the hard work begins.....
Gassing Station | Finance | Top of Page | What's New | My Stuff