Posted on 26 October 2014 by Chris
I am on an income of £15k annual gross including guaranteed overtime and am looking for mortgages in I am on an income of £15k annual gross including guaranteed overtime and am looking for mortgages in the range of £50k - £60k with a £9k deposit. I have no bad credit whatsoever and have 2 current accounts and a credit card never overdrawn and paid in full monthly. I have just moved back to my parents and registered on the electoral roll so should be available to show proof when it is updated. Is there a minimum term to be on the electoral roll as i have everything registered to me at this address and can provide bank statements or even a letter from bank confirming time at bank etc. Its just the recent enrolment on the electoral roll that is bothering me and if it would be a problem obtaining a mortgage. Thanks.
At the higher Loan to Values (LTV's) most of the major lenders base their lending decisions on the borrowers overall credit scrore against their lending criteria, and being on th electoral register does play a fairly big part on that. Usually they look to prove the last 3 years address history by electronic verification.
I'd have a look at your upto date credit file and see what the score is, as that should give you a better idea. In the meantime, it may be worth talking to a local building society as they may take a more sympathetic view.
If you'd like to discuss your options in more detail, then please contact one of our consultants on 0344 346 3672 and they'll be able to give you an idea of how we can help.
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