reffused mortgage - Help needed!

dwight-van-man

Two things that may ease your mind a bit. Firstly, your broker has a Business Development Manager at Northern Rock who will be able to give them a more accurate idea of what has caused the decline. They generally can't be too specific, but should be able to tell you if there is adverse credit or if you have simply failed the credit score. Secndly, NR have recently increased the pass thresh-hold for lower end credit scores, so it may simply be that your application didn't have sufficient points. This may be due to number of addresses, time in employment, type of employment, voter roll info or even lack of current borrowing. So if you have no adverse credit, there a good chance you will get an approval for 100% elsewhere.

prince_percy

Thank you - it is good to know that there are a number of possible explanations - when we spoke to the financial advisor we felt like we couldn't get the whole picture with him acting as middle man - we are not aware of any credit problems on our records but you never know...on the other hand my wife has just started a new job (only 1 month in) and we have lived in a number of rented houses for a few years. When on the phone to my bank they looked at our credit record and didn't raise any problems so we hope that they will judge on affordability much more than these other criteris...lets hope we get somewhere!!