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Mortgage initially Accepted, then Declined then now being reconsidered!!!
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My appeal results came as fail again due to the personal loan searches I have done during the mortgage application process. I was told by the advisor to leave my application open and try again after a month so by this time the searches might be with no value.
Does anyone know how long do the positive searches take to be with no value ? Is it really 30 days ?0 -
Where did you so the searches that resulted in credit report entries ?0
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Lack of electoral roll registration will be an issue in itself. As it is what links you as an individual to a particular address. That enables cross referencing and checking to be performed. Without it simply not possible to verify your credit status.0
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Unless you have done loads (and I mean loads) I cannot imagine you are being told the truth
As suggested, competent broker makes this issue resolvable I would imagine.
Wait 30 days is just a blag from someone not wanting to give you all bad news.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
I'm also not a citizen (but have ILR) and can definitely say that not being on the Electoral Roll causes a lot of problems. I have flawless credit, high income, and a stable job that I've been employed at for 7 years. However, I've still failed 'credit checks' quite a few times. Due to this I have checked my statutory reports, which are also perfect in terms of what they show. So, I can only assume it's an electoral roll issue in my case anyway. That usually is a blocker at the computer credit check stage, though, and not the underwriter I would think - it's quite easy to prove your address to a human being via utility bills and the such.
Whilst I'm not an IFA of any sort, applying for a personal loan at the same time as having a mortgage being processed definitely seems like it would be a very big red flag.0 -
ccbrowning wrote: »it's quite easy to prove your address to a human being via utility bills and the such.
That's not the issue from a lenders perspective.0
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