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Mortgages

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  • jamesbrown
    replied
    Originally posted by cannon999 View Post
    I was refused a 10% deposit because I am not registered on the electoral poll.. literally the only reason - otherwise my credit score was 983
    You wouldn't have a credit score like that, being absent from the electoral roll. Something smells there. Anyway, you don't know which company they are going to use for the credit check (some banks consistently use the same company, but many ask one of several companies) and none of the banks look at the scores you see - they have their own scoring systems based on the contents of the credit report.

    Leave a comment:


  • SueEllen
    replied
    Originally posted by cannon999 View Post
    I was refused a 10% deposit because I am not registered on the electoral poll.. literally the only reason - otherwise my credit score was 983
    Your credit score wasn't that with them otherwise they would have given you the mortgage.

    Leave a comment:


  • cannon999
    replied
    Originally posted by BigDataPro View Post
    Mortgage providers seem to be going down the route of "The Computer says 'No', Sorry!!!"
    I was refused a 10% deposit because I am not registered on the electoral poll.. literally the only reason - otherwise my credit score was 983

    Leave a comment:


  • BigDataPro
    replied
    Mortgage providers seem to be going down the route of "The Computer says 'No', Sorry!!!"

    Leave a comment:


  • cannon999
    replied
    Originally posted by Eirikur View Post
    I'm nationwide customer for 15 years had my previous mortgage with them and paid of very quickly. The max they will offer me doesn't even buy me a parking space in London.
    I have been with HSBC for 16 years but they wanted 2 years of SA and quoted me 3.99% interest rate on a 10% deposit.

    Leave a comment:


  • cannon999
    replied
    Originally posted by Eirikur View Post
    I literally just came of the phone with Halifax just before posting this. I'm curious to know if you contacted someone specialised in self employed mortgages or just a regular mortgage advisor?
    I went through a mortgage broker. I am also on an hourly rate and Halifax were one of the only lenders who were happy with that.

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  • Eirikur
    replied
    Originally posted by PCTNN View Post
    Recently had a mortgage offer from Nationwide.

    Their lending criteria for self-employed are alright
    Employment criteria | Nationwide for Intermediaries

    caveat: I put up chunky-ish deposit and I guess it depends what you mean with "substantial". I'm borrowing an amount that wouldn't get you a 1 bed flat in London
    I'm nationwide customer for 15 years had my previous mortgage with them and paid of very quickly. The max they will offer me doesn't even buy me a parking space in London.

    Leave a comment:


  • Eirikur
    replied
    Originally posted by cannon999 View Post
    Really? I got a mortgage offer from Halifax just over a week ago and they were only interested in my day rate. Has something changed recently? Slightly worried now if my house purchase falls through I will struggle to get a mortgage again lol. What interest rate are you being quoted?
    I literally just came of the phone with Halifax just before posting this. I'm curious to know if you contacted someone specialised in self employed mortgages or just a regular mortgage advisor?

    Leave a comment:


  • jamesbrown
    replied
    There have been reports in the press of tighter lending criteria for the self-employed, yes, along with tighter lending overall (larger deposits). How that translates on the ground will obviously depend on your personal circumstances and what banks you're looking at. A good broker will have a decent overview (e.g., CMME would know).

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  • PCTNN
    replied
    Originally posted by Eirikur View Post
    Any other contractor here finding it difficult to get any substantial mortgage at the moment?
    Halifax is not looking at day rates and contract length anymore, only last two tax years of self assessments
    CMME says it's tulip at the moment, especially when you have a gap in company income due to COVID in the last couple of months.
    Best I was quoted so far is 1/3d of what I was quoted 18 months ago.
    Anyone who knows a lender who is still a bit flexible?
    Recently had a mortgage offer from Nationwide.

    Their lending criteria for self-employed are alright
    Employment criteria | Nationwide for Intermediaries

    caveat: I put up chunky-ish deposit and I guess it depends what you mean with "substantial". I'm borrowing an amount that wouldn't get you a 1 bed flat in London
    Last edited by PCTNN; 2 February 2021, 11:52.

    Leave a comment:

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