1st time mortgage declined

nicko1

Hi

Advice required if possible.

Myself and my partner have had our mortgage declined much to our disappointed as I myself have only been in my current job for four months, having been in my previous job for 2 years.

We were at no point told during the whole application that you had to be in your current occupation for a certain time before an application could be accepted.

My question is why weren't we advised of this and why was our application taken?

Why have we already been required to pay for the survey to be completed?

Why have we already been charged towards the solicitor?

As we are first time buyers we decided to use the surveyor and solicitor through the mortgage provider as I assumed they would charge us a the right time accordingly.

We've already had an offer accepted and the contract through and I don't want to advise the seller we can't go through with it just yet.

Any advice?

Dave_Ham

The answer will be the same unfortunately:

Because you believed the Estate Agent would tell you the truth.

I am assuming that you used the Estate Agent mortgage broker and solicitor.

In the real world, no-one pays search fees until a mortgage offer is received and no-one pays for a valuation for an application that does not meet policy.

This could potentially be salvaged, if the valuation has not been done ensure it is cancelled. If not, the Estate Agents will have to refund you as their fault.

The solicitors work can still be used subject to you getting another mortgage. There are mortgage companies out there that will accept 4 months service, depending upon the details...

Good luck

nicko1

Dave_Ham wrote: »

The answer will be the same unfortunately:

Because you believed the Estate Agent would tell you the truth.

I am assuming that you used the Estate Agent mortgage broker and solicitor.

In the real world, no-one pays search fees until a mortgage offer is received and no-one pays for a valuation for an application that does not meet policy.

This could potentially be salvaged, if the valuation has not been done ensure it is cancelled. If not, the Estate Agents will have to refund you as their fault.

The solicitors work can still be used subject to you getting another mortgage. There are mortgage companies out there that will accept 4 months service, depending upon the details...

Good luck

thanks for the reply

No we did it through a high street bank.

Dave_Ham

The bank will definitely refund you, so this is better news..

Complain with the bank, not sure why the solicitors starting incurring cost without the mortgage offer but you can but ask them...

nicko1

has anybody heard of a mortgage application being accepted as of a certain date? i.e mortgage will be able to go through after 6 months of service in current job?

GMS

Clearky the 'adviser' is at fault. HSBC by any chance?

There are lenders with no minimum employment needed. Speak to a broker if you are in a rush. If not wait until you look to fit where you applied.