Mortgage Application Declined by Woolwich

richiecatt19

Hi All,

I'm new to this on the Forum, I wanted to see if I could get some advice on a mortgage application I have just had declined by Underwriters.

I was going through a mortgage broker on the help to buy scheme, I was up front and honest with the mortgage broker as I had defaults on my credit report from 4 years ago (All satisfied) Due to this he advised that our best option would be to go through Woolwich as their criteria states that they accept defaults as long as they are over 3 years old (Which mine are)

My mortgage broker came back to me today and advised its been declined due to the past credit, apparently they are saying they were never satisfied and apparently I have a CCJ on my report which is a load of rubbish. I check my credit report regularly and there is no CCJ and my defaults show as satisfied.

I asked them can they not appeal and apparently it was passed on to senior under writers and there is no budging...

I'm fuming!! There just seems no way I can secure a mortgage. I really thought Help to Buy would help me get on the market.

Could anyone advise if I should re-appeal, I tried calling Woolwich direct but they said I need to speak to my mortgage broker (Who have not been very helpful)

There must be other mortgage companies out there.

Any advise would be appreciated.

Cheers

kingstreet

Do you have recent copies of all three of your credit files?

Barclays/Woolwich uses Experian and Equifax, so is it on one, but not the other?

richiecatt19

kingstreet wrote: »

Do you have recent copies of all three of your credit files?

Barclays/Woolwich uses Experian and Equifax, so is it on one, but not the other?

Hi,

I have checked them all and no ccj etc!

Thrugelmir

Did you settle your debts in full ?

richiecatt19

Yeah all debts paid in full!

Show on credit report as satisfied!

Should I look at the small mortgage lenders!

themull1

Maybe a mortgage broker would be your best bet.

richiecatt19

We went through a mortgage broker who said that for my circumstances that we should go through woolwich as we fit their criteria!

Only for the underwriter to decline

mkmini81

Going through a similar thing with the underwriters at Woolwich now. How long did they take? I have 3 defaults all over 3 years Satisfied, they did request a letter from one of the DCA's to confirm the account was closed as it showed partial settlement on the 01/06/10 then settled on 30/06/10.

Just waiting to see what the outcome is. not sure if it helps me but the 3 defualts are all due to drop off in October?

pearson27

you need someone who will manually underwrite the application

i just exchanged on my purchase and me and my wife both had settled defaults of a low value, one of mine was infact settled the same month i applied for a mortgage

i would go with a small lender, as i did but still got a good deal, and dodge the high street lenders - only ever interest in the easy targets