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Refused mortgage application
tophate2222
Posts: 4 Newbie
Hi all
I have just applied for a new mortgage (moving lender) and have been refused.
Reason being is I changed credit card late last year and during the change I have messed up on the old credit dard by leaving a balance of £28 and cancelled the direct debit, then I thought my new credit card had been set up on the new direct debit but this had't. Both these were resolved once I realised the payment was late.
The problem I have now is there are two late payment statements on my Equifax credit report. This is teh reason I have been refused the mortgage.
I have no other bad reports on the statement for my whole life. This has been a misunderstanding and yes a failure on my behalf.
Im well within the mortgage lenders requirements with a request for a 60% loan to value and Im earning twice the national average with only my CC as outstanding debt outside of my mortgage.
Is there anything I can do about this? will talking to the credit card companies help?
Thanks
I have just applied for a new mortgage (moving lender) and have been refused.
Reason being is I changed credit card late last year and during the change I have messed up on the old credit dard by leaving a balance of £28 and cancelled the direct debit, then I thought my new credit card had been set up on the new direct debit but this had't. Both these were resolved once I realised the payment was late.
The problem I have now is there are two late payment statements on my Equifax credit report. This is teh reason I have been refused the mortgage.
I have no other bad reports on the statement for my whole life. This has been a misunderstanding and yes a failure on my behalf.
Im well within the mortgage lenders requirements with a request for a 60% loan to value and Im earning twice the national average with only my CC as outstanding debt outside of my mortgage.
Is there anything I can do about this? will talking to the credit card companies help?
Thanks
0
Comments
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Which lender? HSBC by any chance?I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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No First Direct0
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Part of HSBC...
Unfortunately the HSBC crew are not client friendly...
Do not worry, given what you have said all of the sensible lenders will be happy to receive your application.
Its more about them and there criteria and less about you so do not beat yourself up.
DaveI am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Thats a shame as I had a fantastic offer on the table as an incentive to change lender to them.
Thanks for the replies.0 -
How much is your CC debt?0
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5000 with a 10000 limit0
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