Help!!!!!!

Doc0375

Our broker has told us we should get an answer by Tuesday, so I guess it's just wait and see.
Really wish we had of gone thro our bank!!

mrginge

You made a mistake. Not really your fault, plenty of people do. But don't compound that mistake by continuing to deal with someone who *sounds* clueless.

kingstreet

Do you have any joint financial arrangements with your wife, such as joint loans or current accounts?

If you didn't, the first mortgage application to Nationwide will now have created an association between you which will have linked your credit history with hers.

This may not have an impact on the Halifax application, but it may have been smart to carry out a disassociation first, before submitting a further speculative application.

Was your wife disclosed as a dependent and an occupant of the property for the necessary consentor form to be issued? What is the source of the deposit for the purchase?

Thrugelmir

The fact that you've previously applied jointly with your wife to the NW may well have been detected by the Halifax. Which obviously would raise concerns.

Doc0375

We have a joint bank account and that is all.

The deposit is from a redundancy, I am currently in the army and applied for redundancy which I happily got accepted for. I start my new job 21 days after I leave the army, which all have been made aware of and they have my new job details regarding pay etc and its been of no issue. I get around £100k in redundancy as I have served 18 years but we are using some to pay off my wife's credit cards etc so that we are debt free when moving. This was all put in our mortgage application. We will have money left as a buffer and. For rainy days as I will earning less in new job so thought it sensible to leave money in savings. We are also buying a new car some wont have car finance to pay out for. We have worked out our sums a million times and we can more than afford our mortgage. My wife doesn't work.

amnblog

ACG wrote: »

Mine for example says i charge on application but refund it if the lender declines the application.

Why? Do you not do the work in any case?

amnblog

your broker sounds inexperienced.

A proportion of cases do go into 'audit' as part of a lenders agreement with the regulator.

This is probably no reflection on your case at all.

ACG

amnblog wrote: »

Why? Do you not do the work in any case?

It actually says i refund it all bar a £100 admin fee - but £100 isnt worth arguing over i just refund the full amount (Unless they have told blatant lies to me).

People come to me for a Mortgage. Its my job to do the factfind and decide if its possible or not. If i dont think its possible, would i be swayed by the fact that i know i will get £xxx whatever the outcome? Possibly.

Basically, i charge in the way i would want to be charged.

kingstreet

Our agreement is "£249 payable on application and non-refundable" but in practical terms, we provide an invoice at application stage giving the client seven days to pay.

TBH we're normally pretty sure we're going to be successful, otherwise we wouldn't be willing to submit an application. We're pretty smart to the "business quality" issues likely to influence proc fee levels from next year.

When they do eventually pay, we're normally well in to the application process, but would consider refunding if the case was declined for an unexpected reason, even though we do not have to do so.

Doc0375

We had an answer from Halifax on Friday. It went all the way through to full application to then be refused at audit. Turns out we are being refused because we have moved more than normal people!!! I am in the forces so in the past 4 years we have had 4 addresses!!! Not my fault!! So on Wednesday I have an appointment with my bank to see if they can help. Last attempt before we have to go to plan b!!!! It also turns out my broker put in the applications for my new employment status and not my current one!!! Marvellous!!! Also they have refunded the broker fee as they said it was a situation they couldn't of foreseen!!!