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AIP given by Lloyds (C&G) but application declined - please help?
stanstan20
Posts: 10 Forumite
Hi
Please can somebody give me some advice?
I went to the mortgage advisor at Lloyds TSB last week to find out if I could get a C&G mortgage at 65% LTV. The loan was for £90,000 on a property value of £140,000 - we are first time buyers. She went through all our details: income, dependents, debts etc, then said she was doing a credit check, and finally said that we had been approved subject to proof of income etc. She also said that she could lend us up to £100,000.
We have found a house very cheap and need to move fast and show the vendor that we are proceeding quickly so decided to use the estate agents' recommended broker to make the application (still for C&G mortgage). We did this over the phone this evening with him giving exactly the same info as before for the Agreement In Principle, only for the application to be declined due to credit score!??
Does anybody know how this could be? Or what I should do?
The reason I did the AIP in the first place was because we had been late with a couple of credit card repayments recently and I wasn't sure about whether we could get a mortgage at all. So when Lloyds said the credit score was fine it got our hopes up and made me more confident - now feeling crushed - we will lose the house if we can't get this sorted soon.
Many thanks for any advice you can give us.
Please can somebody give me some advice?
I went to the mortgage advisor at Lloyds TSB last week to find out if I could get a C&G mortgage at 65% LTV. The loan was for £90,000 on a property value of £140,000 - we are first time buyers. She went through all our details: income, dependents, debts etc, then said she was doing a credit check, and finally said that we had been approved subject to proof of income etc. She also said that she could lend us up to £100,000.
We have found a house very cheap and need to move fast and show the vendor that we are proceeding quickly so decided to use the estate agents' recommended broker to make the application (still for C&G mortgage). We did this over the phone this evening with him giving exactly the same info as before for the Agreement In Principle, only for the application to be declined due to credit score!??
Does anybody know how this could be? Or what I should do?
The reason I did the AIP in the first place was because we had been late with a couple of credit card repayments recently and I wasn't sure about whether we could get a mortgage at all. So when Lloyds said the credit score was fine it got our hopes up and made me more confident - now feeling crushed - we will lose the house if we can't get this sorted soon.
Many thanks for any advice you can give us.
0
Comments
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It could be the credit file hadn't been updated when the 1st score was done therefore the missed payments didn't show.0
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