accepted for mortgage, declined for bank a/c!

victhesmith

Myself and my partner applied for a mortgage through britannia (now part of the co-op) and the application was accepted and offer given.

We decided we would also open a basic joint bank account for bills to go out of at the same time with the co-op.

Just heard today it was declined. It seems ridiculous that we get declined for a joint bank account but accepted for a mortgage!!??!

I dont know if its because I am living with his mum and dad at the moment so am not on the electoral roll and my cards etc are registered at my mum and dads address or what...but i gave all previous addresses etc.

Anyone else had any similiar issues? We've both not been declined for anything else in the past year or more and have good credit rating.

Is it worth applying for again or should we just use our single bank accounts instead?

Does anyone know if you can just add a name to a bank account?

Thanks

YorkshireBoy

victhesmith wrote: »

Is it worth applying for again...

Rather than apply again (what would that achieve?), why not ask why you were declined and then appeal their decision?

Does anyone know if you can just add a name to a bank account?

Yes you can, subject to the usual fraud, AML, and CRA checks.

victhesmith

She said she couldnt tell me why we had been declined but it was just automatic on the system. A letter is being sent out to us so that may detail more. I think possibly its because we are not on the electoral roll as are between houses until we move into our new house.

Not a biggie, just thought it was wierd!

tabby_cats_mum

I've banked with the Co-op for years but when I wanted to open a basic bank account (to keep an elderly relatives pension payments separate) I was told they were only for people in financial difficulty and I had to have a normal current account. Perhaps that's what's happened here as they already know your financial situation due to your succesful mortgage application.

JuicyJesus

The Co-op are very, very picky with who they'll give a current account to. Probably the pickiest of the mainstream retail banks.

As said, you can appeal the decision. Go back and ask to, pointing out exactly what you said - they'll advance you both tens of thousands of pounds but won't give you a bank account.