Mortgage rejection with large deposit

Thrugelmir

Missnthompson wrote: »

equifax is the only one which says we aren't great and Halifax are just using experian.

Experian will update their data from other CRA's. Different organisations report to different agencies. So until a formal search is requested then no one agency necessarily has the complete picture.

Your application has no doubt been refered to senior underwriters. Yes you have a large deposit, presumably your partners, however your credit record is poor. The default for your partner doesn't help either.

Missnthompson

My salary is £35,000 before commission and my partner net profit of around £20,000 average for the last three years accounts. The deposit is a gift and we have declared this with letters. Halifax now know the ins and outs of my finances and where every penny comes from and goes to!
We hae paper work to back up everything including a letter from the company where the default was to confirm they have changed the account to settled and now all records show as settled not satisfied.
I truly hope even a senior underwriter can see that a few silly mistakes before we lived together and had a shared income will not affect our ability to pay back this money.

Thanks all for your advice I am very interested in what you all have to say.

chanz4

Not silly when your talking thousands, Gifted deposit so nothing saved, Wonga loans, defaults........ not looking good.

Also it doesn't matter what you enter into Experian, its what you tell the lender that matters. Also your partners net profit of £20k, that not much

Missnthompson

The two defaults total £173.55 and we do have savings accounts and isa's too.

Guess its all in the hands of the underwritter now.

chanz4

have you got the £1k in fees, plus stamp duty?

Missnthompson

Yes we have the money for fees and stamp duty not included in our deposit or the money we want to borrow. Does this help us at all?