Can't Get A Mortgage - HELP!!!

[maddyrose1664]

Hi All,

 

I'm not really up to speed on Credit reference files etc but I'm in the poo and I need your help.

 

I have just sold my house to pay off all the debts. It should complete on 22nd September all being well.

 

My husband and I want to buy another house and are having trouble getting mortgage. No surprises I hear you say!

 

Well, we are applying for a Birmingham Midshires self certification mortgage, with a guarantor and an income reference and they still won't do it because there are too many adverse entries on our credit report. We have managed to get the Halifax to remove theirs, our current mortgage provider, but Paragon, who we have a second mortgage with, won't budge.

 

Does anyone have any ideas please? If we don't buy a new house we'll waste our deposit I know it. We're so bad with money. If we do that, we'll never get back on the property ladder again.

 

Please help!!

[Tinkerbelle]

Have a look in the Legalities section. There's lots of information there about this sort of thing, as well as sorting out your credit file.

 

Good luck.

[PhantomReclaimer]

What sort of credit history do you have - CCJ's, bankruptcy, etc? Unless you have very, very bad crdit files I would imagine that someone would give you a mortgage. There are companies that specialise in that sort of thing although, of course, you will be paying more.

 

P.

[gizmo111]

Hi All,

 

I'm not really up to speed on Credit reference files etc but I'm in the poo and I need your help.

 

I have just sold my house to pay off all the debts. It should complete on 22nd September all being well.

 

My husband and I want to buy another house and are having trouble getting mortgage. No surprises I hear you say!

 

Well, we are applying for a Birmingham Midshires self certification mortgage, with a guarantor and an income reference and they still won't do it because there are too many adverse entries on our credit report. We have managed to get the Halifax to remove theirs, our current mortgage provider, but Paragon, who we have a second mortgage with, won't budge.

 

Does anyone have any ideas please? If we don't buy a new house we'll waste our deposit I know it. We're so bad with money. If we do that, we'll never get back on the property ladder again.

 

Please help!!

 

You need to get your credit report and let us know exactly what is on it. Will you be paying PAragon off when you complete?

[maddyrose1664]

There are no CCJs or defaults.

 

Paragon have made 3 entries stating that twice I have been 1 month late and once I have been 2 months late.

 

This is due to my changing bank accounts and them not receiving the new details therefore missing a couple of payments befire I realised what had happened.

 

Capital One say that I am 5 months late which is total rubbish as my last payment was on 16th August. In the last 12 months, they have made 8 entries. I am on a £1 a month programme with them at the moment but I did sweeten them up yesterday by making a £100 payment.

 

There are a few more entries with other credit card companies made over the last year or so when I have missed the odd payment.

 

Yes, I will be paying off Paragon on completion of my house sale.

[sleepz]

Go to a Mortgage Broker, you'll find one in your local city high street.

If you explain the circumstances to them im sure they'll know exactly where to go to secure you a mortgage. They generally don't cost anything as the banks pay them a commission, you don't have anything to lose by paying them a visit.

 

I got my mortgage through a place called "The Mortgage Advice centre", I basically went there because I didn't have a clue where to start or where to go.

it was just a shop in the high street.

[maddyrose1664]

My step dad is a financial advisor and is looking on our behalf. I wouldn't want to use anyone else - there are a lot of sharks round my way.

[gizmo111]

There are no CCJs or defaults.

 

Paragon have made 3 entries stating that twice I have been 1 month late and once I have been 2 months late.

 

This is due to my changing bank accounts and them not receiving the new details therefore missing a couple of payments befire I realised what had happened.

 

Capital One say that I am 5 months late which is total rubbish as my last payment was on 16th August. In the last 12 months, they have made 8 entries. I am on a £1 a month programme with them at the moment but I did sweeten them up yesterday by making a £100 payment.

 

There are a few more entries with other credit card companies made over the last year or so when I have missed the odd payment.

 

Yes, I will be paying off Paragon on completion of my house sale.

 

I can't understand BM turning you down. I had a lot worse than that when I ttok out mortgage with them, and it wasn't unrealsitically overpriced (still was but not horrendous compared to high street) check their site here BM Solutions - Mortgages each prduct has details of what they will lend with bad credit.

[noobrider]

morgan stanley are a very good mortgage company but only offer through brokers

[Glenn UK]

FWIW

 

If you have been turend down by the Bm ask them while in writing. if they say its becauise of a bad credit file entry, if you can get them removed you may be able to claim something back if youre forced to pay a higher mortgage rate than otherwise would be the case i believe.

 

JMHO

 

Glenn