Hi,
As a first time buyer, I had an agreement in principal, saw a flat under budget, made an accepted offer. Using a whole market mortgage broker to try and get a mortgage of less than 3 times salary, using 10-15% deposit. Broker has tried 2 so far, but 2 problems occur. I have always lived within my means and so never had an overdraft, credit card or used credit. And in order to save money, I moved 3 times in 3 years. 1 of these properties was an informal agreement with a landlady - filled out electoral roll form but seems it was not sent off. And the other 2 addresses are converted flats - both of which go by different addresses depending on which address data base you use. (confusion between top and first floor flat names) .
If I use one of the credit checking services to update and correct details, will these details be changed for all data bases that mortgage companies use? I am filling in another electoral roll form to confirm my current address, but as a lot of the mortgage applications rely on computers, will I continuously run into problems if the computer doesn't see the correct flat name in my address?
According to the mortgage broker, I am an 'ideal mortgage customer' (maybe they all say that) but working in education, with a regular salary it seems that I'm hitting a brick wall as 'the computer says no'. Mortgage broker is now trying to sort a mortgage with another no credit scoring company to get round this... but again it could fall down due to the electoral roll data at present...
Has anyone got any advice etc? Can previous electoral roll details be amended in retrospect? My bank have suggested that they would also look at my account details when deciding on a mortgage, but haven't confirmed that would definitely accept me, and would give me a mortgage rate of at least 1% higher than what the broker is currently looking at.
Should I shelve the flat buying plans for the moment, or are there any other ways around it?
Hope some of this makes sense,
As a first time buyer, I had an agreement in principal, saw a flat under budget, made an accepted offer. Using a whole market mortgage broker to try and get a mortgage of less than 3 times salary, using 10-15% deposit. Broker has tried 2 so far, but 2 problems occur. I have always lived within my means and so never had an overdraft, credit card or used credit. And in order to save money, I moved 3 times in 3 years. 1 of these properties was an informal agreement with a landlady - filled out electoral roll form but seems it was not sent off. And the other 2 addresses are converted flats - both of which go by different addresses depending on which address data base you use. (confusion between top and first floor flat names) .
If I use one of the credit checking services to update and correct details, will these details be changed for all data bases that mortgage companies use? I am filling in another electoral roll form to confirm my current address, but as a lot of the mortgage applications rely on computers, will I continuously run into problems if the computer doesn't see the correct flat name in my address?
According to the mortgage broker, I am an 'ideal mortgage customer' (maybe they all say that) but working in education, with a regular salary it seems that I'm hitting a brick wall as 'the computer says no'. Mortgage broker is now trying to sort a mortgage with another no credit scoring company to get round this... but again it could fall down due to the electoral roll data at present...
Has anyone got any advice etc? Can previous electoral roll details be amended in retrospect? My bank have suggested that they would also look at my account details when deciding on a mortgage, but haven't confirmed that would definitely accept me, and would give me a mortgage rate of at least 1% higher than what the broker is currently looking at.
Should I shelve the flat buying plans for the moment, or are there any other ways around it?
Hope some of this makes sense,