Anyone want to join me? Awaiting Mortgage decision...

akorn77

FtbDreaming said:

akorn77 said:

FtbDreaming said:

Mine was down valued due to future saleability as it is on a Local Authority housing estate! And it mentioned possible previous subsidence which is BS its a mid terraced and I've already lived there 7 years with no issues. Just rubbish council plastering. 

Which lender was this? 

Halifax and survey was E-Surv

Ah. The flat Im buying has the council has the Freeholder. I hope they dont down value it a huge sum...service charge and ground rent are peanuts (£300/£10) which makes it more valuable than less valuable in my opinion, despite it being a "council" flat

Niccj

I posted in here but moved it to my own thread. 

MovingForwards

@renfirsttimebuy you may want to join this thread

December1

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19alreadyforgot

December1 said:

Hi I could really do with some help/advice.

I am applying for a mortgage for a property I have seen (new build) via a broker - I am a first time buyer.

Now last year I applied for an AIP via a different broker when I saw a property I was interested in and didn’t end up going with. This AIP was originally rejected when I inputted a certain address. I have lived with my parents for the past 5 years however during 2018-2019 I worked away in a different city for a year and was renting a property. I still kept all my bank statements and everything else at my parents address as I originally wasn’t planning to work in this city for long however I ended up being there a year and renting a flat. When the AIP came as rejected the broker at the time tried the AIP without the addition of this address And it went through fine. Because I didn’t persue with any purchase that was left at that.

This time round (almost 5 months later) the same situation has happened. I explained to this new broker about what happened previously and she was adamant that we should apply for the AIP the correct way with all my address history etc. We did this and it failed with Halifax. She then decided to scrap the address and it went through with NatWest.

i have never missed a payment, had any CCJs or anything like that. I’m not sure as to why this address is causing me problems and was wondering if anyone could help out? I don’t know if it’s because none of my bank statements etc were linked to the address or if any previous tenants have had any problems whilst at the property?

i am now concerned as my mortgage application will begin next week and this address is clearly stated on my report as a linked address. I’m sure the underwriter will want to question further about it. I just worry that this will cause problems as although I rented for a year for work and have council tax bills and rent agreements and a work contract as proof, is it possible the lender/underwriter may ask or reject the appliction due to my broker not stating the address as one of my previous addresses in the application originally? I’m not sure if I’m overthinking but I’m concerned. again I have nothing to hide but I’m confused as to why this address causes me to fail my AIPs.

hope someone can help and thank you in advance 

Are you on the electrol roll at your current address ? 

December1

19alreadyforgot said:

December1 said:

Hi I could really do with some help/advice.

I am applying for a mortgage for a property I have seen (new build) via a broker - I am a first time buyer.

Now last year I applied for an AIP via a different broker when I saw a property I was interested in and didn’t end up going with. This AIP was originally rejected when I inputted a certain address. I have lived with my parents for the past 5 years however during 2018-2019 I worked away in a different city for a year and was renting a property. I still kept all my bank statements and everything else at my parents address as I originally wasn’t planning to work in this city for long however I ended up being there a year and renting a flat. When the AIP came as rejected the broker at the time tried the AIP without the addition of this address And it went through fine. Because I didn’t persue with any purchase that was left at that.

This time round (almost 5 months later) the same situation has happened. I explained to this new broker about what happened previously and she was adamant that we should apply for the AIP the correct way with all my address history etc. We did this and it failed with Halifax. She then decided to scrap the address and it went through with NatWest.

i have never missed a payment, had any CCJs or anything like that. I’m not sure as to why this address is causing me problems and was wondering if anyone could help out? I don’t know if it’s because none of my bank statements etc were linked to the address or if any previous tenants have had any problems whilst at the property?

i am now concerned as my mortgage application will begin next week and this address is clearly stated on my report as a linked address. I’m sure the underwriter will want to question further about it. I just worry that this will cause problems as although I rented for a year for work and have council tax bills and rent agreements and a work contract as proof, is it possible the lender/underwriter may ask or reject the appliction due to my broker not stating the address as one of my previous addresses in the application originally? I’m not sure if I’m overthinking but I’m concerned. again I have nothing to hide but I’m confused as to why this address causes me to fail my AIPs.

hope someone can help and thank you in advance 

Are you on the electrol roll at your current address ? 

Yes I am on the electrol roll at my current address. 
I have been on the electrol roll at my parents address since Ive been living here but I also was on the electrol roll on the address i rented at and that is stated on my report.

19alreadyforgot

Ok good . I would go onto Experian, credit karma and ClearScore (all three credit bureaus) Just to double check they are all the same . All are free. 

BUT, i actually think it’s as simple as you changing address . I was advised to wait until I had been at my moms and on electoral roll for 6 months consistently (after selling own house) before applying as they often refuse any less as it’s seen as unstable moving about. 

This proved to be true as I got refused DIP at 5 months and 2 weeks and a yes DIP at 6 ! Both through broker and with Halifax. Everything else hadnt changed.   

19alreadyforgot

also, if you are not honest in application and they see it on your credit report search it makes them suspicious and auto reject . 

December1

19alreadyforgot said:

also, if you are not honest in application and they see it on your credit report search it makes them suspicious and auto reject . 

This is what i'm concerned about. I have been honest with my advisor but when she applied for the DIP with the address (even though ive been on the electrol roll for over 6 months since leaving my rented place and moving home) it still declines. Im not sure if its something thats linked to the rented address? We've now applied without the address and its only a matter of time before it gets picked up - this seems like its the only way to even get a sucessful dip without the address. Again I have no ccjs no mispayments, my debt to income ratio is fine so I just dont know! Im concered about an auto rejection by the lender but i dont know what else to do!

19alreadyforgot

Have you checked all 3 credit bureaus? Lenders actually check all three. Anything suspects may show on one but not another which is why they check them all. They also update 4-8 weeks after an event , 
for example mine have only just updated that I’ve been at my address over 6 months when it’s actually now been 7.5.
An alternative would be to go to your own bank for a mortgage or even nationwide, they have a good reputation for looking at the persons situation rather than a credit file.
If you have a DIP already, then that’s a good sign. It may be that everything is fine now . A hard search upon full application is more about past financial practices and reliability.