Stressed out!!!

dealmein

Hi

I am wondering if anyone has any experience/advice on outcomes for people who have their electronic application referred.

My partner and I have applied for a mortgage through out mortgage broker with Nottingham Building Society. When we were credit checked the result was that we had been 'referred'. Upon further investigation it seems that it is because one of the addresses where I lived couldn't be found on the system. I have sent in all sorts of paperwork, including direct debit mandates, P60s, wage slips, bank statements etc etc. This is so they can manually check it.


Neither of us have any loans/credit anywhere, no CCJs etc. We have 28k deposit and are hoping to borrow 99.5k. Our income is 32k.

Our mortgage advisor says that although he can't guarantee they'll say yes, he can't see that there will be a problem. He gets his fee from the lender, so I can't see why he would get us to continue if he wasn't confident because he wouldn't get his cash. Or perhaps I am wrong in this assumption..

We have handed over a cheque to the Nottingham for £199 (booking fee) which the broker has warned that in the unlikely event of a turn down we wouldn't get back. We took the decision to risk this as although we are renting we are under notice and need to move by end of May. I am really sick of paying someone else's mortgage for them!

I was wondering if any of you kind people had any thoughts on the likelihood of a yes after a 'referred'. My broker says that Nottingham are more flexible because they are a relatively small provider.

Yet still I have a sick feeling in my stomach, which I have to endure for another 10 days at least, as they have a backlog of cases to get through.

Perhaps I should stay off this forum becuase I am scaring myself!!

Thanks in advance

ACG

Ive never come across a referred for that reason but ive had a couple of refers, they tend to go through.

Obviously if you have disclosed an address and they cant find it, then they need to check you have no bad debts linked ot that address, if you dont then i wouldnt worry until you find out one way or the other - there is nothing you can do at the minute.

dealmein

Thank you ACG for your reply.

You are right of course - not to worry and on that I will do my best!

I sent letters confirming the address - one of which is a council tax bill. I was on the electoral register there too, so no problems there. The address is 'funny' and not picked up because it was a flat within a college. I was an employee. Every time I got a bill or letter from a company it seemed to have a different variation of the address on it. Althought the mortgage broker found it ok!

I had no idea how complicated and stressful this house buying business is and I'm not even involved in a chain!

Thanks once again and fingers crossed...

dealmein

I got the nod today - hooray!!!!!! :beer:

Good luck to everyone else out there trying to get sorted in these difficult times.....