Mortgage declined why ?

bcfclee27

On noddle all accounts are green.
Really don't understand this.

Thrugelmir

bcfclee27 wrote: »

The application was declined for this above reason and the fact that my wife lives in her overdraft.

That will a material bearing on the outcome of the application. Lenders are now required to assess affordability. Continual use of overdraft suggests that finances are not well managed.

FTB_Doll

Have u looked at aliases? Are you on the E Roll? x

bcfclee27

FTB_Doll wrote: »

Have u looked at aliases? Are you on the E Roll? x

I'm not on the electoral roll does this count for much ?

Also a mate I shared an account with for bills about 5 years ago is a connection. Could this effect it (I think he had some money troubles) and if so how do I get rid of him ?

FTB_Doll

bcfclee27 wrote: »

I'm not on the electoral roll does this count for much ?

Also a mate I shared an account with for bills about 5 years ago is a connection. Could this effect it (I think he had some money troubles) and if so how do I get rid of him ?

I may do but like another poster said the OD wont be looked on favourably x

bcfclee27

So does o/d have a big bearing on the mortgage ?
Didn't realise this mattered that much ?

FTB_Doll

bcfclee27 wrote: »

So does o/d have a big bearing on the mortgage ?
Didn't realise this mattered that much ?

Different lenders have different scoring. Do you earn enough to sustain the mortgage? How large is the OD x

bcfclee27

Is there anyone I can ring to get answers on my report as this is really starting to get frustrating.

bcfclee27

FTB_Doll wrote: »

Different lenders have different scoring. Do you earn enough to sustain the mortgage? How large is the OD x

Yes mortgage will be 1400
Our combined income is 3800

My od is 500
Wife's 1000

kingstreet

Have you got all three reports for each of you?

You need to put them into the hands of your broker to analyse the data.

Are there any late payments?
Are you both on the electoral roll?
What credit accounts are showing as current? Are the records accurate?

Once this data is taken into account, the lender also looks at the rest of your application, such as time in job, time at current address, loan to value etc.

We can't tell you what the problem is, because we don't know all this. You need your broker to explain the issues.