Yes when others say No
Mr Turnball had recently retired from the armed services but was now looking to buy a house with his wife. He'd had some credit issues whilst being based abroad which led to their original mortgage application with another lender being rejected.
Mr and Mrs Turnball wanted to buy a new home, having been renting for several years. Mr Turnball had started a new job 9 months ago, working within the leisure industry. This was after over 20 years working within the armed services, at times being stationed overseas.
They required a mortgage of £120,000 on a property worth £180,000. However, they had previously had a mortgage application rejected due to Mr Turnball having some credit issues in the past, notably a few defaults. In terms of rental payments, they were always up to date.
Their adviser approached us, due to our sensible approach to underwriting. Their new mortgage payments would be less than the rent and their combined income, including an armed forces pension for Mr Turnball, was more than sufficient from an affordability perspective. The adviser explained that the previous defaults occurred whilst Mr Turnball was working overseas, when he was not able to check his credit commitments sufficiently. These had since all been resolved.
We took a holistic view of the case and granted a mortgage. The Turnballs and their 2 children are now enjoying settled life in their new home.