Unsure if this is the right place, but have just had a mortgage declined and now in desperate need of help.
Highlights are £50k deposit from sale of current home and looking to borrow a further £150k
Been declined by own bank as a couple of old defaults.
Unsure where to turn, are we looking at losing the property or paying stupidly high rates
Hi, thanks for getting in contact.
It would most certainly come down to the finer details however based on the deposit you have I would expect there to be a solution.
Based on the information you’ve provided I would be surprised if rates were unreasonably high and whilst getting the mortgage is important, first and foremost it’s got to be affordable.
If you’re able to get a copy of your credit file from a main agency such as Experian, Equifax or Check my file we would gladly assess this in more detail for you.
That does make me feel a bit better, but obviously a stressful time.
I have got an Experian report and it scores 746 and has 3 defaulted accounts from 2016 and 1 from 2017
Still think sounds ok?
The score itself will not be a deciding factor in whether you are approved or not so try not to stress about that.
Based on the dates provided I do believe there will be a solution for you though which is great news!
If you’re able to save the Experian report as a PDF and email it to myself at [email protected] I would happily assess your options and come back to you before close of business today.