credit history & mortgages

madsam121 · #1 (**permalink**) 24th January 2008, 09:09 AM

Can someone please tell me if getting a mortgage out there is hard? our credit history isn't very good back in the uk and are not able to get a mortgage with a high street bank over here so as you can imagine we are pretty worried about whether this could shatter our dreams!

we don't need a high mortgage and haven't got a high one over here. please help,any advice would be grately recieved!!!!!!

sam xxx

kaz101 · #2 (**permalink**) 24th January 2008, 09:34 PM

Hi Sam,

Then there's some good news. I don't think that your credit history transfers over.

What some of the high street banks look at is regular monthly income, even more so than what you bring over. We had a load of money sitting in an account with a high street bank when we moved over and they wouldn't give us a credit card for $5,000 since we didn't have a regular income.

The high street banks are 'old fashioned' compared with the ones in the UK and you pay monthly fees, but saying that transfers go through a lot quicker than the UK.

Like in the UK you can get a mortgage approved in principle and that is what we did once we knew the area we would be settling in. We found a pretty good broker and although the first bank he tried wouldn't touch us the second one did.

A broker may be useful unless you want to try the high street banks first.
If you want me to send you his details let me know and I'll send them via a PM.

Regards,
Karen

madsam121 · #3 (**permalink**) 25th January 2008, 12:02 PM

Hi Karen, thats prob the best news i've heard!!! really want a fresh start! yes please if you could send me the details of the mortgage broker that would be great thankyou. what are their fees like? been stung before with fees and don't want to get caught out again.
thanks sam xx

kaz101 · #4 (**permalink**) 25th January 2008, 07:54 PM

Quote:

Originally Posted by madsam121

please if you could send me the details of the mortgage broker that would be great thankyou.

Just sent you a PM. Check with Dwayne about the charges but I think he gets commission from the lender and yes you still get a good deal.

Regards,
Karen