Appealing mortgage decisions - First Direct / Santander

herbiesjp

I would not continue applying to lenders, as multiple credit searches will be harming your credit scores, and lowering the chances of being accepted.

Discuss the scenario with a broker, and they will be able to come with lenders who should be able to help - even ones who do not leave a hard footprint on your credit file.

Do you have much to look at on your credit files? Have you had any loand/credit cards etc showing on there?

Night_Fury

My partner has never had a credit card or loan. He has always been good with money and saved lots. Do you think this could go against him? Like I say, other than the electoral roll issue, we cannot see a problem. He can afford the mortgage no problem.

herbiesjp

Having no, or little, credit history can have a negative impact.

So if this is the case you definitely need to talk to an adviser, as he is unlikely to get a high score with lenders and is therefore being declined on the basis of getting a low acore and low results for affordability calculators/income multiples.

Night_Fury

Thanks for that. I will let him know. With having no previous credit cards etc, does that completely rule people out from getting a mortgage or do we still have a chance?

herbiesjp

He still has a chance with the right lenders.

Night_Fury

Great, that's good to know. Hopefully the broker can find them! I assume the rates would still be okay though? We wouldn't want to apply for a sub-prime mortgage.

Leon_W

" We wouldn't want to apply for a sub-prime mortgage. "

I do not understand this. As your declines from First Direct and Santander are giving you a clue. You are obviously not prime as they would be lending to you otherwise.

I would more flatteringly term you as "near prime".

Night_Fury

They could just have a stricter lending criteria (or it could solely be down to the electoral roll issue). I take your point though. I just hope we can get something affordable and fast.

handytips

Most lenders really do not like it if you are not on the voters roll, this will go against you massively, get down to the electoral office asap if i were you, i would also get a broker involved if you havent already as they will be able to help you better than going direct or trying to do things online. I see this kind of case regularly.

Leon_W

First Direct are strict. Santander not so. I'd be more worried why you were refused by Santander to be honest.

As herbie says, speak to a broker and try to work out what the root of the problem is, they can often have an "off the record" chat about why you were declined. Sometimes it's not what you know but who you know, and an experienced broker would have built these relationships.

Best of luck.