Mortgage Application Referred to Underwriters...Help!

The_Bjorn_Identity

We sold our house just under 2 weeks ago and have moved in with relatives temporarily. Yesterday I applied for a mortgage with ING direct and after doing a credit check was told that it would have to be "referred to the underwriters" as I was not on the electoral register. I spoke to the local elections office who told me that I was still registered to vote at my previous address as I have been for nearly 10 years. I have asked them to change my details to my relatives address, but was told this may take some time to register on various credit check systems. I assume this problem is because they have done the credit check using my relatives address as this is where I am making the application from? Does anyone know if this is likely to be a problem? What do the underwriters do? Will the check the electoral role from my previous address? If ING wont give me a mortgage on this basis will other lenders do likewise? Any knowledge/reassurance would be appreciated.

lightspeed

Not sure of the impact of what your describe but in my experience applications going to the underwriters is not unusual in todays market.

On paper me and the wife are a pretty sure bet but both our applications have gone to the underwriters and on both occassions we have been accepted with YBS and HSBC (apparently one of the toughest) respectively.

If you are upfront and dont pose too many question marks you should be fine.

kingstreet

If the lender asks for an address history covering a certain period, you answer the question honestly. If you have lived with this relative for less than three years, you'd put down the previous address(es) you lived at before that. Hopefully they would then pick up your electoral roll history.

Is there any particular reason the person who completed the electoral roll questionnaire last October failed to add you?

I expect ING will ask for written evidence of address, in the form of additional bank statements if they aren't satisfied.

I've just re-read. TWO WEEKS? Of course you won't be on the electoral roll after two weeks. Relax. It's just a correspondence address and it should be fine.

The_Bjorn_Identity

Cheers guys. Just heard back from ING. The underwriters have looked at the circumstances and agreed that this is not a problem, so it's all go. I think it was a case of the guy inputting the data for the credit check having a case of.... " sorry...computer says no".