HELP! RBS declined ME for a mortgage

pattinson0291

:mad: Hi every one am 23 years old first time buyer and just seen a house that I would really like. But went in to my rbs branch to see what they could offer me I was told after a short time on the computer there that I had been declined and, was given a number to phone number to phone. The reason I was giving was that I had missed a standing order to my own savings account the day before I had reallised this the very day that it came off so put 500 in to clear it SHE THEN TOLD ME I WOULD HAVE TO WAIT 3 MOTHS TO REAPLIY for a mortgage the house I want will be gone by then CAN ANY ONE HELP:wall:

Kynthia

Go to a whole of market or in dependant mortgage broker who will find you a suitable mortgage. Why would you restrict your investigations to just one lender?

chanz4

broker, you bank wont change

kingstreet

Adverse RBS/NatWest account conduct is an automatic decline if in the last three months.

See an independent broker, or wait.

Leo2020

I have always recommend going to see an independent mortgage advisor, we have always used the same one and has saved us a lot of money of the years.

However, several members of my friends and family have still chosen to only go to their bank. Once their bank has offered them a mortgage they are happy with that. I have explained that they will likely save money with an mortgage advisor and have even given them our figures of when we last switched our mortgage. We saved a fair bit by switching compared to carrying on with the standard rate after the fixed period ended. I suspect most of these friends will just go onto the standard rate after their fixed period and leave it at that.

I can't get my head around why you would want to give a bank more money for your house than you need but what other people do is up to them.

ladyabouttown

I went to Santander and they said nope... called a broker and they got me a mortgage with Santander... go figure...

Pixie5740

I agree with the other who have said go and see a whole of market broker.

If you haven't done so already, it might be a good idea to get the £2 copies of your Experian and Equifax credit reports just to make sure the details are all accurate.

Em_0805

We were also declined by RBS (my bank) and reapplied to Nat West through a broker, and have received a mortgage offer. So as others have said, its worth trying a broker.

FireWyrm

kingstreet wrote: »

Adverse RBS/NatWest account conduct is an automatic decline if in the last three months.
.

Really? Wow, that's a bit strong. I know you should keep your financial affairs squeegee clean, but seriously, a single missed payment from one personal account to another banjaxes you for a mortgage? Where is the common sense in that?

kingstreet

FireWyrm wrote: »

Really? Wow, that's a bit strong. I know you should keep your financial affairs squeegee clean, but seriously, a single missed payment from one personal account to another banjaxes you for a mortgage? Where is the common sense in that?

Clearing banks have always been incredibly anal about current account conduct, where building societies and former building societies have always been a bit more relaxed.

All lenders have their little foibles.

Nationwide, for example, won't accept as deposit any money where a loan has been repaid. If you get back money you loaned your brother, they will decline, if that is used as part of your deposit. Odd.