Withdrawn Mortgage Offer?

martin_r_10789

Right here goes...

My partner and I are in the process of buying our first house together (20 and 23 years old), it is a 50% buy 50% rent property aimed at first time buyers.

Through our mortgage advisor we applied for a mortgage with Nationwide, and we offered a mortgage fairly quickly... However, somehow our advisor managed to get my middle name wrong on the application (despite having a copy of my passport) and we were informed that Nationwide couldn't offer us the mortgage under my actual name.

However, in this time we told our solicitors to go ahead and get the surveys and everything else that is required. So we now have all the legal fees to pay and no mortgage on the house. We have called Nationwide and they have said that they will go through an appeals process for our application as it was not our fault that the application was wrong.

Is there any advice anyone could give us on what we could do, as a mortgage offer was made and we proceeded with the legal fees on the basis of an offer?

Hopefully all of that makes sense,
Thanks in advance

dunstonh

A change of middle name wouldnt cause a decision change in itself.

Have you found out what the actual reason is?

The only thing I can think of is that possible past credit history has been found under the correct name that was not taken into account with a different middle name.

martin_r_10789

I can't understand how a different middle name can make this much difference either... we haven't been given a reason as of yet but the only thing that I could have affected the offer was that I have a student loan... but was specifically told my our mortgage advisor that this would not be taken into account.

Thrugelmir

martin_r_10789 wrote: »

Is there any advice anyone could give us on what we could do, as a mortgage offer was made and we proceeded with the legal fees on the basis of an offer?

Until a full application is made then a mortgage offer is not made.

Normally solicitors will not proceed with a transaction until a mortgage offer is in place. They will ask for the money to cover search fees. So everything is ready to go. In the event that the transaction does not proceed then these monies are refunded.

lawriejones1

On my mortgage application with Nationwide we included my partner's confirmation name, which didn't appear on her passport and therefore necessitated us getting an updated offer. The only reason they might refuse your application would be if they had to run a new credit check and you failed for some reason. It's rather churlish to say it now, but in our case as in yours accuracy is key.

I hope things work out for you.

Goldiegirl

lawriejones1 wrote: »

On my mortgage application with Nationwide we included my partner's confirmation name, which didn't appear on her passport and therefore necessitated us getting an updated offer. The only reason they might refuse your application would be if they had to run a new credit check and you failed for some reason. It's rather churlish to say it now, but in our case as in yours accuracy is key.

I hope things work out for you.

This is probably what has happened, when the correct and full name was keyed, adverse information was found, which made the application fail the Nationwide's credit scoring system.