home
in

Can I get mortgage with high street bank?

Last post Tue, Mar 24 2009, 3:36 PM by Becs. 10 replies.
Sort Posts: Previous Next
  •  Tue, Mar 24 2009, 3:36 PM

    Re: Can I get mortgage with high street bank?

    Hi Jen84.

    I too am trying to get a mortgage with my boyfriend. I also have a low credit score and my boyfriend has a great credit score. I also have a default on an old account which was 2 years ok. We have a 20% deposit and both on a good wage. We recently went to Lloyds TSB to apply for a joint mortgage and they refused us, but accepted him on his own but offering a lower amount. We are going to see a mortgage broker who might be able to get us a mortgage but at a little bit higher interest. If i cant get on the mortgage we are lucky enough that my boyfriends wages can get us the mortgage.

    Make sure you tell your partner about your previous credit history before you go in there as it will only show up anyway.

    Hope this helps in someway?

    • Post Points: 5
  •  Sat, Mar 14 2009, 8:42 PM

    Re: Can I get mortgage with high street bank?

    Thanks but unfortunately good brokers need good products and that we don't have. This is not TCF!!
    • Post Points: 5
  •  Sat, Mar 14 2009, 10:15 AM

    Re: Can I get mortgage with high street bank?

    Hang on in there EKB - the mortgage world does need good brokers!

    Lou

    • Post Points: 20
  •  Fri, Mar 13 2009, 10:37 PM

    Re: Can I get mortgage with high street bank?

    Congratulations well done! You are almost certainly right htat had you gone through a broker you would not have got that agreed. Definitely time I look for a new job :-)
    • Post Points: 20
  •  Wed, Mar 11 2009, 8:46 PM

    Re: Can I get mortgage with high street bank?

    Jen

    This is such brilliant news. Good luck with everything else and be happy in your new home. With all the doom and gloom about, your good news is so welcome!

    Lou

    • Post Points: 20
  •  Wed, Mar 11 2009, 7:49 PM

    Re: Can I get mortgage with high street bank?

    Hi Louise,

    We Went to the rbs and got our offer accepted subject to survey. I am not 100% sure as to how their system scores etc but I am delighted I did not have to go through any mortgage brokers and be penalised for financial mistakes I made when I was younger. I would suggest that everyone go directly to the bank before going elsewhere as you they do not just take your past into account.

    Thanks for your help

    Jen

    • Post Points: 20
  •  Tue, Mar 10 2009, 6:40 AM

    Re: Can I get mortgage with high street bank?

    Hi Jen

    I would think the NatWest sounds a good bet - especially as they have recently proved they think you are a good risk. However, in this current confusing world of mergers - rbs are now part of the same group as Nat West. I am not sure how much they communicate with each other, but given they are under the same ownership it may be worth keeping your appointment with rbs and pointing out your good relationship with the Nat West.

    I would ask thm the same question you have just asked me - should I go directly to Nat West? I think if they see you as a good 'group' customer they will want to help you themselves.

    Please let us know how you get on.

    • Post Points: 20
  •  Mon, Mar 09 2009, 11:19 AM

    Re: Can I get mortgage with high street bank?

    Hi Louise,

    Thanks for your advice. So you think my best shot would be to go to my bank? I am with the NatWest and they just last week increased my overdraft limit without me requesting this is this a good sign? We are going to the rbs for our mortgage on wed should I go see my own bank first before getting a search done with the rbs and see if they are willing to offer me one based on my internal score?

    Your advice is much appreciated.

    Jen

    • Post Points: 20
  •  Sat, Mar 07 2009, 8:40 PM

    Re: Can I get mortgage with high street bank?

    Hi Jen

    EKB is depressingly accurate when indicating credit score systems are increasingly driving decisions aon mortgage applications and a default in the last three years will certainly be a big factor. However, you have obviously been accepted for a loan quite recently which is a positive sign. Given your recent good financial management plus your savings history and your partners spotless history, you are looking for a Lender that has a more common sense approach to mortgages and can see that your financial problems and mis management are now a thing of the past. The best place to start would be either with the bank where you hold your current account or with the Company that gave you the loan. If either of these are also mortgage Lenders, they would be able to see your good recent record.

    Good luck with your first house. Let us know how you get on.

    • Post Points: 5
  •  Sat, Mar 07 2009, 8:18 PM

    Re: Can I get mortgage with high street bank?

    I'm sorry to say I would think it's 99.9% certain that with those 2 defaults you will not get a 90% mortgage. Even pre credit crunch you would have struggled to get a 90% deal with a high street lender with that on your file. You may find a lender who will lend if you can put down a 15% deposit. I suggest to take your experian file to go and see a whole of market broker who will be able to give you the best advice.

    • Post Points: 5
  •  Sat, Mar 07 2009, 10:56 AM

    Can I get mortgage with high street bank?

    Hi

    I am looking for some mortgage advice. I am a first time buyer, 24 who earns £18k p/y, my partner is 25 and earns £13k he has an excellent credit rating of 966 but I have a credit score of 511! This is due to a few searches that were carried out for a loan back in October and I also have a default which I fully satisfied in Sept 07 of £1250, I also have a default from 03 for £1600 but I presume this is too old too take into consideration? I have managed my credit well since I have an overdraft, small credit card which I clear the balance on each month and a loan which I have voluntarily increased the monthly repayment and a mobile phone which comes out each month through direct debit.

    We have had an offer accepted on a house which is valued at £85k and we have a 10% deposit. Can anyone tell me if we will be automatically declined due to my score or will they look at evidence surrounding affordability before making a decision?

    • Post Points: 50