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Mortgage declined 3 times - help!!!
lukolela
Posts: 2 Newbie
in Credit cards
Hi,
My partner and I decided to apply for a mortgage to get out of rental as we both have decent permanet jobs a pretty good deposit.
We passed two mortgage in principals with a mortgage broker before applying to Santander. After 8 weeks of waiting and chasing we were declined with no explanation given. So we moved on to another lender, passed the mortgage in principle but after 3 weeks were declined again. By this time we had lost the property we wanted to buy so decided to give it a break for a bit.
A week later we found another property, had our offer accepted, passed the mortgage in principle, put the application forward but today found out we were declined again!
The mortgage broker cannot understand as out credit files are fine (i've had some defaults in the past but these were all paid and no longer on my credit file) and there is no issue around affordability. The property we want to buy is £150,000, we earn £40,000 between us and have £27,000 as a deposit. The broker said that when applications are declined with no explanation and no grounds of appeal that this could be to some information they have on an inter-banking system. One suggestion the broker had (and only one suggestion) was our identity could have been used by somebody else which has caused an advers mark against us. Has anybody else experienced this?
What is infuriating is we have good credit, deposit and incomes but they won't lend to us and won't give a reason in case this constitues 'tipping off' but is not serious enough to appear on our credit files or to chase us about anything adverse!!
I would really appreciate any thoughts or advice.
My partner and I decided to apply for a mortgage to get out of rental as we both have decent permanet jobs a pretty good deposit.
We passed two mortgage in principals with a mortgage broker before applying to Santander. After 8 weeks of waiting and chasing we were declined with no explanation given. So we moved on to another lender, passed the mortgage in principle but after 3 weeks were declined again. By this time we had lost the property we wanted to buy so decided to give it a break for a bit.
A week later we found another property, had our offer accepted, passed the mortgage in principle, put the application forward but today found out we were declined again!
The mortgage broker cannot understand as out credit files are fine (i've had some defaults in the past but these were all paid and no longer on my credit file) and there is no issue around affordability. The property we want to buy is £150,000, we earn £40,000 between us and have £27,000 as a deposit. The broker said that when applications are declined with no explanation and no grounds of appeal that this could be to some information they have on an inter-banking system. One suggestion the broker had (and only one suggestion) was our identity could have been used by somebody else which has caused an advers mark against us. Has anybody else experienced this?
What is infuriating is we have good credit, deposit and incomes but they won't lend to us and won't give a reason in case this constitues 'tipping off' but is not serious enough to appear on our credit files or to chase us about anything adverse!!
I would really appreciate any thoughts or advice.
0
Comments
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Have you checked all your credit files?Try to be a rainbow in someone's cloud.0
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Are you for real? - Glass Half Empty??
:coffee:0 -
Hi, yes we've checked all our credit files and they're fine. We were told that we passed the mortgage in principle based on our credit files so really don't know where to turn. All 3 declines were a straight 'no' with no grounds for appeal and would not disclose any reason. As we've not been given any reason we can't even try and explain anything, if there is anything to explain!0
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