Nationwide mortgage rejection

meebsquat

Good morning all

Me and the missus are selling up after 1 year into our 4 yr fix with nationwide due to house location and were looking to port our mortgage to a new house and possibly take out a further "top up".

Nationwide rejected (went direct) due to credit score. In the time since we were last approved for a mortgage we have had no credit mishaps. We were offered £160k previously but only required £56k so were well below the threshold (this was with a broker).

Mortgage consultant advised us to reapply in 3 months time, which is no problem as we were going to stay with in laws anyway while looking for new property. Question is when we come to reapply in 3 months time, how can we improve our chances of being accepted? We are looking for around £100k and have £20-25k deposit.

Any more info require I'm happy to help!

Meeb

sherrybaby

Have you checked your credit file?

Meeper

Meep!

That would depend on the reason for having a low credit score.

Thrugelmir

meebsquat wrote: »

Mortgage consultant advised us to reapply in 3 months time,

Have you applied for any credit cards or unsecured loans recently?

meebsquat

Not inthe last 6 months, got a new current account with FD. On credit score got a few missed payments on a credit card 4 years ago, totalling 4 in a year. I think it may be due to my missus coming back off of maternity maybe?

Conrad

meebsquat wrote: »

Mortgage consultant advised us to reapply in 3 months time, which is no problem as we were going to stay with in laws anyway

A lot of score points are lost by changing address, so it's best any such 'move' is merely notional and not actual. What I mean is it's alright to bed down at another address for the sake of conveininece but if you mean you are formaly changing address then it will reduce your score.

herbiesjp

meebsquat wrote: »

We are looking for around £100k and have £20-25k deposit.

Any more info require I'm happy to help!

Meeb

Sorry, but the figures are not clear to me.

What is the new purchase price?

You are porting £56k and so will need how much extra on top - so total new borrowing will be?

What is your gross annual salary? And your wife?

Do you have children?
Do you have any debts?

Wh05apk

Conrad wrote: »

A lot of score points are lost by changing address, so it's best any such 'move' is merely notional and not actual. What I mean is it's alright to bed down at another address for the sake of conveininece but if you mean you are formaly changing address then it will reduce your score.

Do you mean keep all accounts at previous address and just have the post redirected?