Morgage Advice
25 October 2009, 12:31 AM
#1
Morgage Advice
Possibly looking to buy my 1st house very soon...
I do not have a 100% clean credit history. how can i check this? i assume by getting a equifax report??
What morgage rate am i likly to get for intrest only morgage? is there anyway i can find out even if i qualify?
I do not have a 100% clean credit history. how can i check this? i assume by getting a equifax report??
What morgage rate am i likly to get for intrest only morgage? is there anyway i can find out even if i qualify?
25 October 2009, 01:11 AM
#2
go see a mortgage advisor, best money you will spend (was with me anyway, back in the day)
as you have a less than 100% clean history its good to write a letter along with an application explaining why
dont go with one of these obscure companies with high rates just to get a mortgage
write to main firms first
Coventry BS were good for me (rate wise) but I wasn't a risk
good luck
as you have a less than 100% clean history its good to write a letter along with an application explaining why
dont go with one of these obscure companies with high rates just to get a mortgage
write to main firms first
Coventry BS were good for me (rate wise) but I wasn't a risk
good luck
25 October 2009, 07:20 AM
#3
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The impact of a question mark on your credit history is more likely to impact the deposit you require rather than the interest you get.
The mortgage market is tight at the moment but not impossible.
Mutual building societies (e.g. Nationwide) will have the best rates, but also will want to most security (e.g. deposit) and are the hardest to borrow from.
High street banks are lending (contrary to naive media and public opinion) with HSBC probably the best option. There you can expect to pay 3 - 3.25% over base rate if you have any credit issues.
If you have real issues then a mortgage broker might be able to help - but it will cost you.
The mortgage market is tight at the moment but not impossible.
Mutual building societies (e.g. Nationwide) will have the best rates, but also will want to most security (e.g. deposit) and are the hardest to borrow from.
High street banks are lending (contrary to naive media and public opinion) with HSBC probably the best option. There you can expect to pay 3 - 3.25% over base rate if you have any credit issues.
If you have real issues then a mortgage broker might be able to help - but it will cost you.
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