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  • FIRST POST
    • Jpc1187
    • By Jpc1187 7th Jan 18, 11:11 PM
    • 12Posts
    • 1Thanks
    Jpc1187
    Mortgage help?
    • #1
    • 7th Jan 18, 11:11 PM
    Mortgage help? 7th Jan 18 at 11:11 PM
    Hi all, I have recently been declined a mortgage from my high street bank after it went to the underwriters I was just wondering what impact this is now going to have on me since a hard check has been done on my file am I still able to apply with a different lender without them getting cold feet?

    Thanks
Page 1
    • csgohan4
    • By csgohan4 8th Jan 18, 7:48 AM
    • 4,097 Posts
    • 2,568 Thanks
    csgohan4
    • #2
    • 8th Jan 18, 7:48 AM
    • #2
    • 8th Jan 18, 7:48 AM
    get a good broker and get all 3 copies of your credit file to know why you got declined. Did the bank say why?
    "It is prudent when shopping for something important, not to limit yourself to Pound land"
    • Jpc1187
    • By Jpc1187 8th Jan 18, 8:04 AM
    • 12 Posts
    • 1 Thanks
    Jpc1187
    • #3
    • 8th Jan 18, 8:04 AM
    • #3
    • 8th Jan 18, 8:04 AM
    Thanks for the reply, I had a default on a credit card 10 years ago with the bank which I had applied to I was told this was on there records but I'm not able to find it on all 3 of my credit reports so I'm hoping I may be able to seek a different lender?
    • Edi81
    • By Edi81 8th Jan 18, 8:14 AM
    • 350 Posts
    • 219 Thanks
    Edi81
    • #4
    • 8th Jan 18, 8:14 AM
    • #4
    • 8th Jan 18, 8:14 AM
    Your credit file only contains 6 years of data.
    The banks records will go back longer - they have lost on you before so they are well within their rights to decline.

    Remember, that various banks are part of the same group so best go to a broker, and disclose the default and who it was with.
    • Jpc1187
    • By Jpc1187 8th Jan 18, 8:20 AM
    • 12 Posts
    • 1 Thanks
    Jpc1187
    • #5
    • 8th Jan 18, 8:20 AM
    • #5
    • 8th Jan 18, 8:20 AM
    Thank you for the reply, I am seeing a broker this afternoon so I'm hoping he is going to be able to point me in the right direction I just wish I'd done this first rather than going direct to the bank I had just completely forgot of the default at the time
    • ACG
    • By ACG 8th Jan 18, 9:48 AM
    • 16,095 Posts
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    ACG
    • #6
    • 8th Jan 18, 9:48 AM
    • #6
    • 8th Jan 18, 9:48 AM
    You should be fine elsewhere. Some lenders ask if you have been declined for a Mortgage elsewhere and why, so you will need to disclose the reason for being declined if asked. But that in itself should not be a reason for other lenders to decline you.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • Jpc1187
    • By Jpc1187 8th Jan 18, 10:32 AM
    • 12 Posts
    • 1 Thanks
    Jpc1187
    • #7
    • 8th Jan 18, 10:32 AM
    • #7
    • 8th Jan 18, 10:32 AM
    Thank you ACG I really appreciate the help I have been in contact with the bank this morning who have told me the debt still exists but it is statute barred and is in enforceable would this be a problem?
    • Jpc1187
    • By Jpc1187 8th Jan 18, 10:33 AM
    • 12 Posts
    • 1 Thanks
    Jpc1187
    • #8
    • 8th Jan 18, 10:33 AM
    • #8
    • 8th Jan 18, 10:33 AM
    Un enforceable sorry not enforceable
    • Jpc1187
    • By Jpc1187 8th Jan 18, 12:56 PM
    • 12 Posts
    • 1 Thanks
    Jpc1187
    • #9
    • 8th Jan 18, 12:56 PM
    • #9
    • 8th Jan 18, 12:56 PM
    http://forums.moneysavingexpert.com/newreply.php?do=newreply&p=73681517
    • ACG
    • By ACG 8th Jan 18, 1:07 PM
    • 16,095 Posts
    • 8,277 Thanks
    ACG
    Its not really about being enforceable or not, you are applying credit and have a history of not paying other credit.

    Lenders use your past to determine your risk. Rightly or Wrongly some lenders will hold things against you internally for far longer than they are allowed to disclose it on your credit report. Natwest/RBS are pretty good at doing that for example.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • NineDeuce
    • By NineDeuce 8th Jan 18, 1:55 PM
    • 674 Posts
    • 582 Thanks
    NineDeuce
    Bob Hope and no hope....
    • kingstreet
    • By kingstreet 8th Jan 18, 2:09 PM
    • 32,593 Posts
    • 17,543 Thanks
    kingstreet
    am I still able to apply with a different lender without them getting cold feet?
    Originally posted by Jpc1187
    Yes. As ACG says this will have little bearing on the outcome of another application.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
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