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Confused about mortgage refusal
Mum7
Posts: 42 Forumite
I applied for a remortgage with Yorkshire bs on the 2.89 2yr fixed deal!
We are currently 3 years into a 5 yr fixed rate with Nationwide but because that rate is 5.44 and we wanted to borrow more for some home improvements it worked out cheaper to pay redemtion and get onto better rate!
I applied to yorkshire Bs yesterday om line and today got an e mail to say we were refused!!
Tried to phone but as always the department had gone home!!!
We have a £200,000 house and wanted to up mortgage to 95,000
We have 21 years left
Have lived in house for 8 years
No other mortgages or properties
No loans
A credit card but always paid on time!!
Joint income of 36,000
So why could it have been refused???
We are currently 3 years into a 5 yr fixed rate with Nationwide but because that rate is 5.44 and we wanted to borrow more for some home improvements it worked out cheaper to pay redemtion and get onto better rate!
I applied to yorkshire Bs yesterday om line and today got an e mail to say we were refused!!
Tried to phone but as always the department had gone home!!!
We have a £200,000 house and wanted to up mortgage to 95,000
We have 21 years left
Have lived in house for 8 years
No other mortgages or properties
No loans
A credit card but always paid on time!!
Joint income of 36,000
So why could it have been refused???
0
Comments
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Any number of reasons. Only way to find out is to speak to the lender in the morning.I am a Mortgage AdviserYou 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.0
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