Outraged, yes outraged

**KARENBE** · 04-09-2013, 02:52 PM

I have just been turned down for a mortgage because I am running a 'childminding business from the property' I'm lost for words at the moment!

**kellyskidz!** · 04-09-2013, 03:11 PM

Oh god that doesn't bode well for me! We rent but are planning to go into the bank for a mortgage as soon as we've saved up a decent deposit. So unfair, at least we're working!x

**Mrsh3103** · 04-09-2013, 03:15 PM

What?? Are you already living there & remortgaging? How awful for you

will that show on your credit rating?

My fixed term ends in march so will be looking to change. Who refused you so I know who to avoid?

**KARENBE** · 04-09-2013, 03:40 PM

Yes, been living here over 20 years. I wanted the money to make improvements (£25,000). Its a bit complicated - my ex wanted to come off the mortgage so I paid off the £15,000 shared mortgage with savings which were earmarked for the improvements. Now to be told no this afternoon has made me .... cross.
Sorry I don't know if I'm allowed to mention the company on here. Also I have banked with them for 6 years. Not sure if it damages my credit rating - time will tell I guess.

**emma04** · 04-09-2013, 03:48 PM

I was ok when I came to the end of my fixed term in march. They just sent me a choice of rates to chose from and that was that. They never asked what my job was. I was in admin when I first got the mortgage.

Sounds a bit of a silly bank to me! What's the difference between having 4/5 of your own kids in the house and having 4/5 that belong to someone else???

Very odd!

**barbarella68** · 04-09-2013, 03:58 PM

Halifax by any chance?

**KARENBE** · 04-09-2013, 04:37 PM

Oops .... just noticed I posted this in wrong place ... how do I transfer it to General Childminding Chat

**FussyElmo** · 04-09-2013, 04:51 PM

Originally Posted by KARENBE

Oops .... just noticed I posted this in wrong place ... how do I transfer it to General Childminding Chat

Ive moved it for you

**loocyloo** · 04-09-2013, 04:52 PM

we had had a mortgage for about 8 yrs with the same bank. we went to see them to increase the mortgage, not by much, but we wanted to buy a bigger house ... they said no, and equally said that they couldn't even lend us the same amount that we were currently lent !!!

it was all to do with my accounts, and the fact that they would only look at the amount I had left after expenses. and although we argued that they looked at DHs TOTAL income BEFORE TAX, and it was then very unfair to look at my income AFTER TAX, they wouldn't budge. the girl kept wittering on about the expense of running a car ... I said DH runs a car and it costs more than mine, yet you are not taking that into account! I was furious.

we spoke to an independent mortgage broker who got things sorted with us. I understand things are a bit different now, but we used him for several years in row to find/negotiate new mortgages as we moved house!
this year, our mortgage company offered us a good deal, and we've taken it, and they are happy with me being a childminder.

we are with Santander.

**sarah707** · 04-09-2013, 04:52 PM

Originally Posted by KARENBE

Oops .... just noticed I posted this in wrong place ... how do I transfer it to General Childminding Chat

One of the moderators has moved it for you... you'll find your way around quickly!

So sorry you are having problems - I suggest you get some independent advice there are lots of companies out there who give mortgages to childminders.

Hugs x

**Kerry30** · 04-09-2013, 04:56 PM

I got told by bank i couldnt take my ex off my mortagage as i dont have the affordabilty. Ive been paying it on my own for the last 2 and a half years. Swear its more cos im self employed.

**The Juggler** · 04-09-2013, 08:30 PM

there are a couple of banks who take you on individual circumstance and credit history - NOT on standard rules and regulations. Try Metrobank and I think Nationwide is the other one.

good luck hon xx

**RachaelStevens** · 05-09-2013, 09:08 AM

This really scares me as I am now saving for a deposit to be able to get a mortgage ir doesn't full me with confidence

**loocyloo** · 05-09-2013, 09:52 AM

Originally Posted by The Juggler

there are a couple of banks who take you on individual circumstance and credit history - NOT on standard rules and regulations. Try Metrobank and I think Nationwide is the other one.

good luck hon xx

It was nationwide that wouldn't give us a mortgage but that was years ago.

**emma04** · 05-09-2013, 10:59 AM

Try the Yorkshire Building Society

**KARENBE** · 05-09-2013, 02:43 PM

Much calmer now! Thanks for all your comments.

I agree its unfair to be judged on net profit when others not. I rang First Direct again and spoke to the underwriter who said no. At first she said net profit not enough so I asked her how is it that I have managed for the last 3 years to put money into a F.D savings account every month = moment of silence ....

then she launched into the 'oh I see you are a childminder', I put forward all arguments I could think of: children only here 10 hours a day at most for only 4 days a week, no problem getting house insured, have liability insurance, house inspected by fire department and ofsted, LTV only 11% (their upper limit LTV 65%) etc, etc.

Her suggestion: I try another bank and get a business mortgage. I gave up.

Next week I'll start again and try the banks mentioned on here.

**Kerry30** · 05-09-2013, 04:23 PM

Nationwide are rubbish. Thats who turned me down a few months ago. Had such a go at mortagage bloke. They told me i only had to be paying 6months on my own to have my ex's name taken off!!!!