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Mortgage advice desperately needed please!!!

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  • Mortgage advice desperately needed please!!!

    Firstly thank you for taking the time to read this!!

    My partners mother sadly passed away in February because of this my partner and his brother inherited the house which has no mortgage on it.

    The house was worth £125,000 and my partner and I decided we would like to buy his brother out as this would be a good way of getting on the property ladder.

    This is where it gets tricky, I am 26 my partner 29 we have both recently paid off all our debts, but I used to be in a debt management plan.

    My partner has 1 default on his account I have about 5 (the annoyance of not caring about the future in my teenage years)

    We both bank with Barclays both soley and joint and take home jointly around £42500 annually.

    Barclays turned us down for a mortgage of £90000 (69% LTV) as the house is now worth £130000 due to home improvements we have already made. They turned us down as I used to have a DMP

    We are both so disheartened as we don't know what to do next as we have both tried so hard to improve our credit score (mine 793 my partners 723)

    So any help and advice would be greatly appreciated.

    Thank you for taking the time to read this x

  • #2
    Re: Mortgage advice desperately needed please!!!

    Hi Minimes,

    Sorry - I've replied to your other post - going for 69% whilst on a dmp is not an issue - there is a specialist lender who will manually underwrite your case - rather than "the computer says no" - they should be able to accept your case since it's lower than 80% ltv.

    Please let me know if you need any more help.

    Thank you.