Hello -
Wife and I are looking to get a joint mortgage for in the region of 150K to 200K.
We have good saving records and have a large deposit - approx 200K.
I'm full time employed on 77K
Wife is part time employed on 26K
no kids. no debts. Presently renting 1300 month. saving about 1K a month. So we pass all the stress tests.
The houses we are looking at are in the region of 350K to 410K So we would have a healthy LTV ratio.
Bad news is that I have a ICB rating. 5 years ago I lost job, returned to education for 18 months to upskill in my profession, I failed to keep on top of loan\credit card and they went in to bad debt. It was a difficult time we struggled to pay rent and needed to get loans from family and friends.. The loan was full repaid about 12 months ago and the credit card (1K) long before that.. The revoked credit card will be removed from ICB in Nov-16 but the other loan(circa <2K) will not be removed until 2019.
We have engaged with one bank at length and the application was eventually refused. I was told to reapply in 1 year.
We've also contacted some brokers who seemed initially enthusiastic about our chances of getting a mortgage but were told no.
Does anyone have any information anecdotal \ professional or otherwise that could help us find a way to getting credit to purchase home?
Regards
Wife and I are looking to get a joint mortgage for in the region of 150K to 200K.
We have good saving records and have a large deposit - approx 200K.
I'm full time employed on 77K
Wife is part time employed on 26K
no kids. no debts. Presently renting 1300 month. saving about 1K a month. So we pass all the stress tests.
The houses we are looking at are in the region of 350K to 410K So we would have a healthy LTV ratio.
Bad news is that I have a ICB rating. 5 years ago I lost job, returned to education for 18 months to upskill in my profession, I failed to keep on top of loan\credit card and they went in to bad debt. It was a difficult time we struggled to pay rent and needed to get loans from family and friends.. The loan was full repaid about 12 months ago and the credit card (1K) long before that.. The revoked credit card will be removed from ICB in Nov-16 but the other loan(circa <2K) will not be removed until 2019.
We have engaged with one bank at length and the application was eventually refused. I was told to reapply in 1 year.
We've also contacted some brokers who seemed initially enthusiastic about our chances of getting a mortgage but were told no.
Does anyone have any information anecdotal \ professional or otherwise that could help us find a way to getting credit to purchase home?
Regards