turned down due to bank charges

herman123

just been turned down ny rbs for joint mortgage.joint earnings of 56000.house price 170000,only 10% deposit.my credit rating fair,partners v good.turned down due to poor banking conduct as i have received fees for going overdrawn.does anyone have any advice as desperate!!!!!!!!!!!!

StuTheDon

Is this a remortgage or a new one? Are you the primary applicant? Remember, they dont look at the full joint salary -I think they count 3 x primary salary and maybe only 1 x secondary applicant's salary - someone may be able to confirm this.

I assume you are applying at your actual bank for a mortgage as they have access to your accounts to see the overdrafts? Or did you send statement copies?

herman123

its a first time buy for me my gf has a mortgage but with another company.we had to send statements.trying to go through abbey now.any advice?

herman123

forgot to ty for reply

Conrad

you will need to consider trying other lenders at 90%. RBS won't change thier minds on this.

rj1000

Couldn't the OP try a mortgage company that don't use banking history as part of their acceptance criteria. I'm sure I read somewhere that some banks base acceptance on credit history alone???

herman123

we have been advised to go with abbey.they have immediately accepted our offer provisinally which we have been told is a good sign that they will proceed.obviously we have to provide proof but they r hopeful bank statements wont be required.advise plz

Zelie

Would reclaiming the charges go anyway to help?

herman123

im not too sure

Zelie

It might be worth asking on the reclaiming bank charges forum. I don't know if reclaiming would mean that the bank would delete information about their having been charges or would just repay the money but the previous info remains. Worthwhile checking though.

koexelek

rj1000 wrote: »

Couldn't the OP try a mortgage company that don't use banking history as part of their acceptance criteria. I'm sure I read somewhere that some banks base acceptance on credit history alone???

Correct.
Most lenders rely primairly on your credit report.
Some want to see bank statements as well, but others don't.

I would say that the majority of lenders do NOT ask for bank statements.
The RBS group are one of the worst for scrutinising bank statements.

I once had clients who had clean credit, good payment records, and always ran their bank account in order.... but an underwriter turned it down, because " they ate out too much", and that sort of lifestyle "could have affected their ability to pay the mortgage in the future ":o