Leeds aplication fee

kyleporter

I received had a mortgage offer in principle accepted by the Leeds.

Now when I went to make a fully application they turned me down. I have however paid them the 200 application fee. Am I entitle to this back since they have not giving me the mortgage.

Thrugelmir

What did the application form say?

Was the fee refundable or not. Their website will contain the details as well.

kyleporter

Non refundable. Unfortunately my financial advisor never told me this at the time. 200 down the drain.

Thrugelmir

Majority will be. As processing applications does cost money.

ACG

Its non refundable.
Your advisor should have told you that, but its in the KFI so presuming you were given that, then they have done the minimum. I always explain the upfront fees so if it does come back declined then atleast it was made clear from the outset.

Why was it declined?
Was it declined outright or did they agree to lend you a lesser amount?

Dave_Ham

This is not good. Was it the Leeds 90% LTV product by any chance as they have a track record of tightening their criteria on this.

If it is for a shared ownership, there are very few lenders that can accomodate and certainly not compete with the rate.

Just in case, do double check both your Experian and Equifax credit reports just in case something has changed and we are blasting Leeds without justification..

kyleporter

My FA told me that they didnt like the way i used my back account there were to many transactions and i came close to going over my overdraft a couple of times.

However in the post this morning i recieved a letter from Leeds saying my application had been cancelled due to lack of action. Does anyone know what this means? I have taken it to mean my mortgage advisor didnt really send them all my stuff and left it to long and now my application has been cancelled. Could this be the case.

Cheers

betmunch

Lack of Action is just that.

I would give them a call directly and ask. If you have been declined due to that then you could still be accepted on a new application.

ACG

Even if they dont accept a new application, ask them what they last requested and when.

If this was provided to your advisor in plenty of time then i would be looking to him/her for my money back to be honest....But that is solely if they havnt pulled their finger out in time.

Thrugelmir

kyleporter wrote: »

My FA told me that they didnt like the way i used my back account there were to many transactions and i came close to going over my overdraft a couple of times.

However in the post this morning i recieved a letter from Leeds saying my application had been cancelled due to lack of action. Does anyone know what this means? I have taken it to mean my mortgage advisor didnt really send them all my stuff and left it to long and now my application has been cancelled. Could this be the case.

Cheers

Lenders will never give real reason for the decline in written form.