Mortgage declined, Searches done, In absolute bits :(

veeveex

Lived at my partners mums house for 12 months while we saved for a deposit, Found our dream house back in March near my dads in cheshire, We put an offer in of 113500 with a deposit of 25k. The mortgage is just in my partners name his salary is 32 k Nationwide gave an AIP, searches were done so we moved into my dads then Nationwide stalled, called them everyday on hold for over 2 hours a day, they couldn't give us an answer why they were taking so long, we had had the searches all done and everything. In may the seller started to threaten to pull out so we called nationwide who said it was going to take another 12 weeks to process, my dads breathing down my neck, he wants us out so we pulled out of nationwide complained and they give us 200 pounds compensation we did an application with the post office.who processed an AIP on the spot they then asked us to to come back on the saturday, the post office have rang my partner today and cancelled the application today stating there are inconstancies in his application they won't tell us what the inconstancies are.

!!!!!! we went through everything with the mortgage advisor bank statements, we have 32 k in the bank, no outgoings no debt a salary of 32 k a year and a modest mortgage of 90,000. I'm in absolute bits the seller is going to pull out, and I'm not sure we will be able to get a mortgage now as we have had 2 credit checks done and one mortgage declined, we are going to be homeless with a 1 year old and I've not had my own space in 18 months. What should we do? Could we still get a mortgage? The source of deposit is 20 k of money saved and 12k gift from family, I'm not on the mortgage because I'm a stay at home mum and have no income and we have never owned a home we previously rented.

Thrugelmir

Why aren't you on the mortgage?

What's the source of the deposit ?

Why did you sell your previous house?

cancelled the application today stating there are inconstancies in his application they won't tell us what the inconstancies are.

All lenders of the CML share data through National Hunters. Application data is crossed checked to ensure that declared information is accurate.

http://www.nhunter.co.uk/

Dave_Ham

Yes you could still get a mortgage and some lenders can have you a mortgage offer next week, subject to the detail.


Post Office are a very selective lender, although I would be worried a bit that Nationwide and Post Office have declined you for fairly mysterious reasons.


I would get copies of your Experian, Equifax and Call Credit reports and get them to an experienced broker, who should research and know where to place quickly.


In the current climate you will need 3 months payslips and bank statements plus ID and others and again this may make the process slicker.


Post Office will not like sole applications where clearly ideally would be joint, so again this is a consideration.


A bit late now, but never good advice to get searches done prior to mortgage offer.


The better the broker you engage, the better your chances here as better chance they will approach the right lender for you

Dave_Ham

Oh and please use paragraphs as easier to read and you may get more comments/feedback

ACG

1 lender declining you does not mean you can not get a Mortgage. It just means that lender will not accept you.

Find a broker and let them sort it out for you.