Voters Roll

metso

Morning,

Yesterday I received the news from the N&P that they were declining my mortgage application.

Despite having a healthy deposit (40% LTV) they declined on the following points:

Voters Roll (main Issue) because I havent been registered since '95 they couldn't perform an extensive credit check.

Because of my job and lifestyle i'm never in one place for too long. My job often takes me away for 2:3 months sometimes abroad or within UK.

I put on my forms that i've been living at my mothers address because that is the address all my mail is sent too and where I stay when i'm not working.

There were other issues as well but I'd like to hear some feedback on how I can adjust this element of my application.

&

Would it be worth me approaching a broker who I can properly explain my circumstances too.

Many thanks Metso..

Dave_Ham

N&P have been best priced and have a large part of manual orientation in their process.

You need to get your Experian, Equifax and Call Credit files and establish exactly what is on there and the audit trail of addresses and dates.

A broker will certainly help, you should still achieve a decent solution given your deposit.

GMS

What were the 'other issues'? May help you get a better answer

metso

other issues:
I'm a company director and presented my last 3 years accounts,
My first year was extraordinarily high, so relative to the last & previous year shows a declining net profit scale.

My current year is better, is it at all possible to do a half year account to show that my half years accounts is better?

the main issue was that because I haven't been registered anywhere, they could not fully access my credit history.

They also mentioned that my partner who is in a similar position, voters poll wise, had a negligible income.

Dave_Ham

Get yourself a broker, definitely a broker case and will save unnecessary credit searches and wasted time.

Lender selection will be crucial for issues you have identified.

All the best

metso

presumably there are many brokers,

what type of broker should I be looking for?

thanks

Dave_Ham

A good one.

In my opinion not one of the ones based out of an Estate Agents and especially not the one from who you are intending to buy from.

Ask if they have a restricted lender panel, as you really want someone who has access to whole of market or independent.

Clarify any fees upfront and ensure any fees payable are refundable should your application not be successful ie they are only paid based upon your success and no non-refundable admin fees etc.

Aside from that, have a free chat upfront and just reassure yourself you are comfortable talking through with them and ultimately trust they come across confidently.

maninthestreet

Can you get yourself on the electoral roll at your mother's address?

Kt8

I would get yourself on an electeroll role...your council website tells you the cut off dates for when you send it and and how long they take to update....then whats next is how long the credit agencies take to update in my case it was up to 2 months- was very stressfull.