how often does a lender ask for a mortgage statement

smnb08

Is it common or not for lenders to ask to see your mortgage statement during the application?
only asking because on my credit report it shows one missed payment but i have made a few late payments earlier on in the year that obviously dont show on my report.

happybroker

fairly common, Beacon always ask in my experience. They didn't used to do credit searches at all but have started quite recently

minimike2

Yes its quite common for them to ask for it - had a lot requested even on prime mortgages recently.

smnb08

i have just spoken to our broker again who insists that she does have an agrreement in principle for us from beacon and they have asked for proof of last 12 months mortgage payments.
she has managed to get them to accept the valuation from accord but will charge £75 admin fee for this.
this means along with £150 booking fee i would have to part with £225 to put in the application.
as we allready payed accord £260 i am so worried that i am going to have the same thing happen all over again and be in an even worse situation than we are now as we will have to not pay something this month in order to pat the £225.
what shall i do ????

happybroker

ask the broker for confirmation that the late payments have been disclosed to beacon in detail and that they have confirmed to her that this won't present a problem.

if she has done this she won't mind agreeing to refund the fees if it gets knocked back as a result.

minimike2

Has shes had anything in writing?

Are any of the other brokers on here aware of Beacon now offering DIPs? I havent seen any news of this on thier website or from any of the packagers?

The only thing I can think is that a full application has been submitted to them. Do you remember what you have siged? As beacon only lend through packagers it may be that you signed a generic application form, and that has been used to submit the full application to them, hence them being able to offer the decison.

smnb08

i know she hasnt disclosed the late payment but she has offered to ring them and ask them if the payments are showing as late if they would still consider this but not mentioning any names.
can i ask her to refer to my case with them and tell them exacly what i have paid and when and ask them if they would still consider us.
i presumed you couldnt do this without putting in a full application.
if you can i cant beleve she was not going to even mention it to them and then risk be being declined because of it!

smnb08

minimike2 wrote: »

Has shes had anything in writing?

Are any of the other brokers on here aware of Beacon now offering DIPs? I havent seen any news of this on thier website or from any of the packagers?

The only thing I can think is that a full application has been submitted to them. Do you remember what you have siged? As beacon only lend through packagers it may be that you signed a generic application form, and that has been used to submit the full application to them, hence them being able to offer the decison.

she hasnt put in a full application yet and they only did the credit search today so she says but i cant see a search by beacon.

happybroker

you need to save money for one thing, putting in applications with fees when the lender doesn't know the full picture can be a costly business.

beacon can only be accessed through a packager, they have no direct to broker proposition. they haven't, as confirmed by minimike, had a DIP process for as long as I or he can remember so is suspect she has gone through this with this packager who will, frankly, tell you anything to get the deal in.

If you are going to have to send in proof of payments anyway why delay things, she may aswell go through the full details before you waste your money. I would consider that "treating customers fairly"

smnb08

happybroker wrote: »

beacon can only be accessed through a packager, they have no direct to broker proposition. they haven't, as confirmed by minimike, had a DIP process for as long as I or he can remember so is suspect she has gone through this with this packager who will, frankly, tell you anything to get the deal in.
what is a packager?
If you are going to have to send in proof of payments anyway why delay things, she may aswell go through the full details before you waste your money. I would consider that "treating customers fairly"

i am going to email her tonight and ask her to go through all of the details with them before i part with any money then if you think thats fair. i suspect this could of been done with accord too saving me £260 and a lot of time.
i have recieved loads and loads of good advice from you great people on this site but just wished i hadnt asked anyone to recomend me a broker as this particular broker was recomended to me by someone on here!

smnb08

by the way what is a packager?