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remortgage turned down :(

thatnewgirl
thatnewgirl Posts: 12 Forumite
edited 7 May 2014 at 9:15PM in Mortgages & endowments
.Thanks for replies. I do appreciate the time people take to try and help. I don't think I can give you the information you need to make an informed suggestion because I just don't have it. I usually have very little to do with our finances but I am feeling personally upset that my poor organisation is now causing these sorts of reprecussions. I certainly don't want to give the impression that anyone has been untruthful at any point.

Thanks again

Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Releasing equity for the purpose intended may be the root cause of your issues. Perhaps sell one of your BTL's or if this isn't an option , obtain a personal loan.
  • ACG
    ACG Posts: 24,897 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    edited 7 May 2014 at 9:10PM
    Did she sign a gifted deposit letter? With all respect, this is one reason why you should not lie on an application... things might not go to plan. (I am making an assumption here and could be wrong).

    We dont know why it has declined as we do not have enough info, the odd late payment shouldnt be enough for an application to get declined in the main.

    How much is the house worth?
    How much do you want to mortgage for?
    How much is your income?
    Have you looked at the credit reports that relate to the lender you applied to? There are 3 credit agencies (equifax, experian, call credit) some lenders use one, others use multiple... so its important you are looking at the same info.
    Who did you apply to?
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, 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.
  • chanz4
    chanz4 Posts: 11,057 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Xmas Saver!
    sell one of the houses?
    Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.
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