Mortgage refusal?

Quiggles5

Long story short. House purchase ongoing. House value 155k. Deposit 25k so mortgage required of 130k over 23 years due to age. First time buyers. Post trust deed past 6 years so all 3 credit reference agencies completely clear. Skipton building society agreed in principal then refused as completed pay day loans showing on credit report from well over a year ago. (Even though their mortgage criteria states active pay day loans applications denied). Now applied with nationwide and agreed in principal but they are asking for pension contributions due to the mortgage request being until the age of 70. Spouse receiving a large pension already as is 22 years served armed forces. No other pension in place and non available at new workplace. No pension in place for myself as was relying on state pension at retirement age. How will this affect the application and could it be refused again ? We both have salaries plus oh pension of. £750 plus per month

Quiggles5

96 views and no advice or suggestions? I'm pulling my hair out here. Really want to settle at last. Any advice is appreciated.

enginesuck

They may refuse, they may not, have you tried going through a broker ? Good luck

Edi81

Do ou have a broker? If not, you need one as a good one will know what each lender will and won't accept.
If you do have a broker, get a new one.

kingstreet

Nationwide will scrutinise such a case very, very carefully as it does with all historic bankruptcy cases.

Payday loan activity will not be well received in such circumstances. I would not have placed such a case with this lender.

Quiggles5

Thanks for the response. We are using a whole of market mortgage advisor. Is that the same as a broker? Through their search it's those two that originally fitted our criteria.

Thrugelmir

Pay day loans usage suggest stretched finances. As is a last resort form of finance. How much unsecured credit borrowing do you have as this maybe impacting any underwriting decision.