Tradefair & Financials
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ok i dont like to type figures but i already own a property with the mortgage paid off (ok i owe a quid) and i want to buy another property for 180k and i have a 60k deposit. I am self employed and earn more than my deposit in a year but today got refused off the sh!tander for a mortgage.
Is this just run of the mill in these hard times or are sh!tander just been @rsy? and why can other people borrow loads and i can't?
Is this just run of the mill in these hard times or are sh!tander just been @rsy? and why can other people borrow loads and i can't?
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my drunken rant last night
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try a broker like L & C (london and country)
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gresty
you need to know why you were declined. get a copy of your credit report. Are you on voters roll. ? Are you applying with anyone else who may have adverse credit? Did you originally pass the credit score , or were you declined . Did they actually look get to the point where they write to your accountant for a reference? Are you going to live in the property? If you have decent income and income of 30k plus you should be able to get a mortgage. |
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Hi chisel, my credit score is ok apparantly she said it was fasttrack or something. They had agreed to borrow me about 20k in principle around a month ago after you advised their 3.09% tracker, since then though i'd thought i'd look into borrowing more and either keep or sell at a later date the property i now live in. The reason i was refused was because they could only lend me 80% of what my property is worth so i'd only receive 96k instead of the 120k needed.
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Hi Gresty
You have a good credit score if it goes fast track. It means they do not require confirmation of your income. I would to suggest you borrow the extra you need on the property you buy via a buy to let mortgage.If you have the majority of teh money from your own property you should qualify for a very good deal. Which property do you intend to live in ? If you want to give me a buzz let me know . The e mail address is chris@your-mortgagecentre.com |