URGENT HELP REQUIRED! Mortgage Approved By Bank - Declined By Underwriter.

smacky

OP hasnt responded since opening the thread

_Andy_

smacky wrote: »

OP hasnt responded since opening the thread

and?
they only posted it this morning

jennyrob669

So on the advice of the above posts we went to a mortgage broker and the mortgage has been approved, no questions asked. So bizarre a well know high street bank that we both bank with would not approve the mortgage, but the first broker we spoke was ready to book the survey on the house for us with absolutely no issues.
Everything should be plain sailing from now on fingers crossed!
Thanks for the responses!

Thrugelmir

jennyrob669 wrote: »

So on the advice of the above posts we went to a mortgage broker and the mortgage has been approved, no questions asked. So bizarre a well know high street bank that we both bank with would not approve the mortgage, but the first broker we spoke was ready to book the survey on the house for us with absolutely no issues.
Everything should be plain sailing from now on fingers crossed!
Thanks for the responses!

By broker I assume you mean lender.

DevCoder

So how did you manage with you debt of 1 year ago? This is what is flagging on lenders records

I have been in debt for about 10 years, always max out a credit card, then get a loan to pay it off, then use a credit card again to pay bank charges. The bank won't help me they just flog more products at me.
I am approximately £9000 over a load, overdraft and two credit cards. I have always kept up the payments, never missed one, I've just been living like this for years not really solving anything.
I need to get rid of this debt permanently as I have been accepted for a mortgage (I must have good credit!) but cannot afford the payments with my partner. (Go figure)
I have had so many cards and loans over the years from various banks, I have none of the paper work. Is it possible to use my credit history to see if I ever paid for PPI? Is there anyway to track down that information?
I'm now at the point were the interest of my debt is killing my bank account and its starting to build up again.
Any advice? Please help!!!!

jennyrob669

The debt is now at £5000 and is not an issue. My bank account got sorted and my credit rating just went up suddenly so I went from a fair rating to an excellent rating. It brought the amount I could lend for a home down, but not so much I couldn't get the house we wanted. The financial adviser I spoke to said the majority of people my age have this level of debt, you just have to buy a new car and you have debt nowadays.

andy.m_2

the credit rating is meaningless, it is one of many many criteria that a lender will consider.

Good luck, if you are recommended to go sub prime then think long and hard.

R_P_W

Are you sure you have an actual mortgage offer?

jennyrob669

Yes I'm sure I have an offer, it's all going through.

Let_Us_See

You have a mortgage offer - and it is all going through?

It is certainly possible for a mortgage to be offered within such a short period, but if you already have your mortgage offer, what exactly is still "going through?" Are you simply referring to the whole purchasing process?