Mortgage declind by Nationwide - Advice required!

hazhick

Hi all,

Some help needed please. My husband and I had a mortgage in principal with Nationwide, we went ahead with the application and now it's come back saying declined. This is after 4 weeks of waiting. Their reason is that something has shown up at a past address, which we don't actually know what it is - they haven't told us.
SO are they obliged to actually tell us the reason (I've done an experian report and nothing untoward at all has shown up. The issue is in my husbands name btw)
Any advice is much appreciated.

Ps we are first time buyers with a 10% gifted deposit (nationwide are aware) and are looking to borrow £144,000 if that helps at all.

Thanks.

kingstreet

They don't have to give you an exact reason, no.

Have you obtained copies of his credit file from all three CRAs to see if it's visible on the others?

hazhick

Thanks for your reply.
No only Experian, should I try Equifax too? I worry that another credit check will effect the score - am I right in thinking that?

Dave_Ham

Get the Equifax too, although if the issue is at a linked address the detail may not be visible.

I would suggest getting all 3 credit files, including Call Credit to a decent broker who will assess and move forward to an appropriate lender.

Good luck

kingstreet

hazhick wrote: »

Thanks for your reply.
No only Experian, should I try Equifax too? I worry that another credit check will effect the score - am I right in thinking that?

No. Ordering your credit file from a CRA does not leave a footprint. Only applications for credit to a lender or finance company do that.

As there are lenders who only use one particular CRA, you may gain an advantage by having all three as this will give you a steer in the right direction.

[Deleted User]

You checking your own credit reports does not show up as a search to lenders, you can check it as often as you like with no effect.

Check all three credit reference agencies.

More info on credit reports on martin's main site:

http://www.moneysavingexpert.com/loans/credit-rating-credit-score

hazhick

Thank you so much for all your help. I will have a look and if I need anymore help ill certainly post.
Have a lovely day