NW approve mortgage, solicitor says add middle name, NW recheck & decline mortgage. P

paulcalf_2

Some months ago Nationwide approved my girlfriend for a mortgage, 15% deposit. They issued all paperwork and did the house valuation etc. They were asked to add her middle name to the mortgage offer, they rechecked her and have now turned her down as she no longer meets the 'score'.

The sale has been dragging on because of retention & surveys. By the time surveys done & retention lifted, mortgage broker said there was a better rate available saving £25pm. My GF told broker to go for new rate, solicitor said mortgage docs needed to state her middle name.

NW said all ok with new rate, but a different department at NW needed to add her middle name to the docs and they have rechecked her credit report and says she no longer meets their internal 'score' for the mortgage.

Broker is trying to sort it & someone at NW is looking at her 'score' but can anyone offer any useful advice or guidance?

The financial details of the mortgage have not changed (just the interest rate), nothing has changed in regards my girlfriends credit worthyness, but she no longer meets the score. I'm not sure who missed her middle name off the docs (broker or NW), but surely she can't be made to suffer because of this? She didn't give permission for another credit check either!

The sale has been dragging on, all searches etc have been done and costs incurred with solicitors. She is now really worried that she will lose the house. She already had to wait 1 month from NW receiving a survey, they asked for, to getting their reply saying 'retention lifted'.

Please help. If she doesn't get approved is legal action worth considering? EG they saw her documents and missed her name of the original offer, she requested her middle name was added but didn't agree to another credit check etc

GMS

Broker is trying to sort it so I assume he is referring the case through the appropriate channels.

It may be a case of an additional search lowering the credit score that little tiny bit so as it now fails.

Broker should have keyed the names as per the ID. To suggest a middle name needs adding seems to indicate it wasn't done initially.

Let the broker try to resolve it before you start to panic

paulcalf_2

Thanks for the reply.

I will leave it to the broker to sort, but at the moment I don't have much confidence. Broker saw the passport and she always fills forms in with her middle name, so it may have been an issue with whoever keyed it into the system.

I don't want to panic, but they took a month to reply to something they had originally asked for.

amnblog

This happens occasionally and middle names are really important when it comes to credit scoring.

If Jane Brown has spent her entire life using her full name of 'Jane Louise Brown' on credit applications the two "names" can have a different credit score.

If the pass is marginal, the middle name can pull it under if it was omitted initially.

The same happens with addresses like Flat 3, 23 Castle Street V 3 Albany House 23 Castle Street

In this case the broker may have some angles to 'pull it out of the fire'.

People make sure you give your full legal name (the one on your passport) for every lending application.

paulcalf_2

Thanks for the reply. I was there when she filled the forms in and gave the broker her passport. She didn't miss her middle name out, it will be a keying error by broker or Nationwide. I hope between the broker & NW it can be sorted. Otherwise she will have spent a load of time, effort and cost to not be able to buy the house!

amnblog wrote: »

This happens occasionally and middle names are really important when it comes to credit scoring.

If Jane Brown has spent her entire life using her full name of 'Jane Louise Brown' on credit applications the two "names" can have a different credit score.

If the pass is marginal, the middle name can pull it under if it was omitted initially.

The same happens with addresses like Flat 3, 23 Castle Street V 3 Albany House 23 Castle Street

In this case the broker may have some angles to 'pull it out of the fire'.

People make sure you give your full legal name (the one on your passport) for every lending application.

paulcalf_2

Just been told that Nationwide have seen sense and agreed the mortgage! I just hope they don't take a month to send the paper work out!