me and my brother applied for a mortgage today,,,?

Question

advisor said rejected as were not on electoral role at mums house, plus we dont have credit cards.
He`s appealing tomorrow please help me..

i desperately want to purchase this property

thanks xx

Answer 1

Yes, you usually do need to be on the electoral roll - this is how credit checks are conducted. Get yourself on it as soon as possible, however depending on the area that you live in and when thay are updating it, you may not be able to do this for six weeks.

I don't think credit cards are normally a prerequisite but bear in mind that without them, plus the fact of not being on the electoral role, you have no checkable credit history at all. Put yourself in the bank's position - would you give yourself a loan?

Unfortunately, I don't think there's much you can do. Both these situations will take a few weeks to rectify. But get on the case straight away and you may find that the property is still available once you've sorted yourselves out.

Answer 2

This is very common. Because you don't have credit cards, this can actually go against you as you don't have a credit history to check against. The fact that you are not on the electoral role should not cause too much of a problem usually, in this case, you will be asked to produce proof of residence like a bank statement. Be careful about going to lots of lenders as everytime a credit check is done on you it leaves a foot print and lenders may start to question why you have approached so many mortgage providers. Stick to high street lenders. What about the mortgage adviser at the estate agents?. Also, your parents may be able to guarantor your mortgage.

Answer 3

With no credit rating and not on electoral role you will have a very hard job getting a mortgage. And if you do get one, it will be higher than average interest rates because you will be deemed higher than average risk.

Get on the electoral role ASAP, get a bank account & credit card.
Then, if you apply in 6 months or so you may be successful

Answer 4

Hope your brother's appeal was successful, and that you get your house. Just want to say to agrendle that there is nothing strange about the Electoral Roll, and a US citizen is in no position to preach to us about the way we run our elections!

Answer 5

Are you in the UK? If so I'd go with Steve B. Get your parents to act as guarantors, also ring your local council and have yourselves put on the electoral roll asap!! Why haven't you been put on this anyway??? Your parents should have automatically put you on that if you are living at home. If you are both working, approach your employers for references, if you don't have passports, get one. Do as much as you as you can to provide ID and proof of residency and you will be half way there. Good luck x

Answer 6

im a mortgage advisor so ill try to help:

1, what are your ages
2, do you have any credit whatsoever? loans, credit cards, bank accounts etc...
3, what is the purchase price
4, what deposit do you have available
5, where are you located.

thanks

Answer 7

Would your Parents be willing to act as Guarantors ?

If so, get them to help by talking to the adviser.

Answer 8

if you don't have credit cards, you don't have decent credit.
get some credit cards, and wait a year or two.....then you will be able to buy a house.

Answer 9

try a different bank but without the things that they turned you down for i doubt you will get one. you won't be classed as a safe asset.

Answer 10

You guys must be in the UK. Strange rules. Elctoral rolls?