Offer on house, no mortgage.

Hi
So for the past few months we realised that we needed to move house, we couldn't get planning to extend our house and we need more bedroom space.
We were advised to clear all outstanding depts apart from current mortgage and we would have no issue getting a mortgage. We have gone from 4k in debt to just under 2k debt which we planned to have cleared by March.
We put our house up for sale and applied for a mortgage and today we have been denied the mortgage. This was on the bases of no proof of savings over past 6 months.
This afternoon we have received an offer on our house at full asking price.
Now caught in selling(potentially) but no where to move to.
Any advice what to do or know some we could get mortgage without the savings history? 230k equity in house plus proof of overpayment and clearance of loans available. Looking for approx another 250k

The problem with short term debt is there's a pattern of people going into debt again, so sometimes the repayments are not taken into account. But it depends on the nature of the debt, the pattern, and which lender you're dealing with.

Did you speak with a mortgage specialist in the bank before you applied, or did you just complete an application and send it in? Sometimes talking it through with an advisor can help things along, where you've an explanation that will help demonstrate affordability. Start there.

After that, I'd suggest contacting a broker in your case, who can help put your application in the best light. There's not much other advice I can give without seeing a lot more information.

Go to a mortgage broker who could present your case better than you have done.

Check your credit record to make sure that there is nothing negative there that you don't know about.

Crossed with Red

Thanks Redonion and Brendan
We had gone to a broker and to a bank directly, the broker I feel has just dismissed us as no history of savings they have denied the mortgage. We approached these on bases of Internet search. I'm still waiting on bank itself to come back, they have not responded since providing documentation 2 weeks ago.
Any advice on a proper broker in North Dublin to approach.

@Sidcon
Were you actually declined by a bank, or the broker didn't process your application for you? Remember, a broker only gets paid a commission if you actually draw down a mortgage, so some of them don't like doing a bit of extra work where they see little hope.

Unfortunately I've no broker recommendations, but hopefully others will.
One recent recommendation in Dublin in this thread: https://www.askaboutmoney.com/threads/mortgage-broker-recommendation.219406/

Thanks Redonion
It was broker not willing to process the application further so not actually declined yet. Will try another broker and see can we get somewhere.

Ah, that's not as negative as your first post sounded.

Best of luck with it.

If you have no savings, how do you expect to put a Booking Deposit down, usually €5000- €10,000. Then how are you going to pay Stamp Duty, Solicitor, surveyor etc.. You need a least €10,0000 savings even if you have load of equity in your house, to purchase a house

Hi all, just to update thanks for all your advice, we approached 2 banks ourselves AIB and Ulster Bank, AIB after speaking with them have now accepted our application and we have now been fully approved (pending Draw down approval).
We have now accepted the offer on our house, with time conditions to suit us getting a new house. Today placed a bid on another house awaiting vendor as house has been on market 2 months. All looks well in the end.

@Sidcon
That's a very positive outcome in a short timeframe. Well done.