I hold be refuse a mortgage, this is due to two behind payments on credit card. What can I do?
I have also moved a few times in the second three years and only started my current job surrounded by Sept 08
I don't want to get a sub-prime mortgage with lb2,500 charge and 7% + rates on a lb70,000 mortgage.
Anybody been in one and the same situation?
Answers:
Make sure you are now up to date with your payments. Check your credit rating on one of the oodles sites. Then talk to the Mortgage Co or another company.
Also try waiting banks are man over cautious about lend to anyone at the moment... The recession must end sometime!
You need to realize the problem now and forthwith begin improving your situation. MAke sure to brand name payments on time from now on and wage out as much as you possible can afford. Most of the world, especially the United States, has outstanding credit card debt and you do not want to be one of the statistics. I have excellent credit because I do not move about over my head and make voluminous payments on time and you doing the same, within time, will eventually raise your score. Good luck! :) Source(s): My personal credit mark
Talk to the mortgage company yourself. Our first home 35 years ago was denied because of ONE late transfer of funds...and we called and talked to them and wrote them a memorandum.
If not ...try another mortgage company. They are not all created equal. Some will loan out when others don't. There are many of them...so keep hold of trying.
Banks are extremely cautious at the moment when it comes to lend criteria it is far stricter than it was say 18months ago.
High street lenders will want to see sufficient income, a verbs credit history and a large deposit. They would also like to see 12 months to three years at your current address and 12 months to 3 years contained by the same employment.
The slightest whiff of a delayed or missed payment will send the running contained by the opposite direction.
I can fully understand you not wanting to use a sub-prime mortgage lenders they are expensive and at times not somewhat so.
If i were you i would wait immediately for another 12 to 18 months pay all of my credit cards in good time miss nothing in reality try to get rid of them all together.
Stay contained by the same job and rather the same place you are currently living at and add what you can to your deposit.
If the just reason they turned you down was because of behind payments on credit cards then the above action should rectify your situation.
If you can not or do not want to continue and decide to use a sub prime lender haggle over the fees they can bring them down,
Just mention they are likely to receive a wearing clothes proc fee from the lender they use as well as what they intend to charge you so you would approaching to see some movement in your favour on the levy they wish to charge.
Also shop around just because one entity says its so doesnt mean their right and beside out viewing your credit file i can not say wether or not they own correctly advised you.
Good luck xx Source(s): Mortgage Advisor
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I don't want to get a sub-prime mortgage with lb2,500 charge and 7% + rates on a lb70,000 mortgage.
Anybody been in one and the same situation?
Answers:
Make sure you are now up to date with your payments. Check your credit rating on one of the oodles sites. Then talk to the Mortgage Co or another company.
Also try waiting banks are man over cautious about lend to anyone at the moment... The recession must end sometime!
You need to realize the problem now and forthwith begin improving your situation. MAke sure to brand name payments on time from now on and wage out as much as you possible can afford. Most of the world, especially the United States, has outstanding credit card debt and you do not want to be one of the statistics. I have excellent credit because I do not move about over my head and make voluminous payments on time and you doing the same, within time, will eventually raise your score. Good luck! :) Source(s): My personal credit mark
Talk to the mortgage company yourself. Our first home 35 years ago was denied because of ONE late transfer of funds...and we called and talked to them and wrote them a memorandum.
If not ...try another mortgage company. They are not all created equal. Some will loan out when others don't. There are many of them...so keep hold of trying.
Banks are extremely cautious at the moment when it comes to lend criteria it is far stricter than it was say 18months ago.
High street lenders will want to see sufficient income, a verbs credit history and a large deposit. They would also like to see 12 months to three years at your current address and 12 months to 3 years contained by the same employment.
The slightest whiff of a delayed or missed payment will send the running contained by the opposite direction.
I can fully understand you not wanting to use a sub-prime mortgage lenders they are expensive and at times not somewhat so.
If i were you i would wait immediately for another 12 to 18 months pay all of my credit cards in good time miss nothing in reality try to get rid of them all together.
Stay contained by the same job and rather the same place you are currently living at and add what you can to your deposit.
If the just reason they turned you down was because of behind payments on credit cards then the above action should rectify your situation.
If you can not or do not want to continue and decide to use a sub prime lender haggle over the fees they can bring them down,
Just mention they are likely to receive a wearing clothes proc fee from the lender they use as well as what they intend to charge you so you would approaching to see some movement in your favour on the levy they wish to charge.
Also shop around just because one entity says its so doesnt mean their right and beside out viewing your credit file i can not say wether or not they own correctly advised you.
Good luck xx Source(s): Mortgage Advisor
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