FTB - Mortgage Declined

monty1981_2

Thanks everyone for the responses, I'll seek out a broker & see how I get on.

trooperdog

I have used brokers (at least 3) and been told I have no chance, been turned away by PO when i tried myself then found a broker from this site who was in a different county to myself.
I sent them both my experian and equifax reports payslips bank statements etc and was tottaly honest about all my commitments after a few weeks they got me an offer from abbey (90%ltv) on 5.9% fixed so i took it it was well affordable. although i had to ring daily for sitreps and constant pestering from my broker abbey fast tracked and i got mortgage and my house.

Lessons learned...
1. NEVER EVER EVER give up
2. find a good broker and be honest with them/her
3. constantly do you homework I have learned soo much from people off this site both advice and other peoples mistakes.

good luck hope it works out!

mij544

Most lenders want bank statements to view an audit trail from the wage slips, and confirmation of address.

If you were in your normal overdraft, then they won't care to much.

HSBC are know for this, so don't take to much notice.

Meeper

trooperdog wrote: »

abbey (90%ltv) .................... fast tracked

For the record, Abbey absolutely did not fast-track your application at 90% LTV. It is likely that you provided the information in a timely manner and your broker was efficient in passing it on. Fast-traking a mortgage application doesn't mean doing it quickly, believe it or not. Fast-tracking is a whole different thing entirely. Just wouldn't want people to be confused by the term.

trooperdog

fair one only going off what i was told! I was under a critical timeframe and my mortgage broker made things happen either way advice still stands!!
it may be helpful if you clarify 'fast tracking'

GMS

Fast Track is when the lender processes the application without the need to provide certain documentation such as payslips. For Abbey the maximum LTV is 75% for fast track if I remember rightly.

Fast Track requires the intermediary to have the payslips etc on file as the lender can request them at any time.

monty1981_2

Thanks v much to those who gave constructive responses.

My partner & I saw a mortgage broker on 7th January & our mortgage was approved by Santander within 3 days.

The mortgage offer arrived today which is much quicker than what both me & my broker expected!

sheilds

Happy Days-very pleased for you-it does pay to keep trying.
Hope everything else goes well.