Mortgage rejected no explanation

Needing_adviice_2014

I was wondering if anyone could help, myself and my partner have just had a mortgage application turned down via nationwide. We got an original aip in June and since then have had to jump through hoops providing information which I won't go into at this point only to be told we can not have the mortgage. Our frustratins lie in the fact that nationwide will not give any reason as to why it has been rejected tho we have fulfilled every request they have made including increasing the deposit. I was wondering if there was anyone out there who knew of any appeal process or anything at all really with regards to at least finding out why it was rejected at the final stage of chief underwriter?

Thank you in advance for any help

ACG

It is quite frustrating as they do not always have to give a reason.

What additional information were they requesting? This might give us an indication as to what they were concerned with.

Typical requests are 3 months bank statements/3 months payslips and photo ID.

Needing_adviice_2014

Yeah we had all of that information including letters from our workplaces which we provided they then said they wouldn't do the mortgage unless we put up an extra 7 thousand pound for the deposit which we did under great difficulty as savings were already being used up for the initial deposit to then be told 10 days later it's a no.

Thrugelmir

Where was the increased deposit being raised from?

ACG

Were you relying on overtime/bonuses?
Have you been in your jobs for relatively short periods of time?

To be honest its really difficult without knowing a lot more information but based on them wanting a bigger deposit and writing to your employer it sounds like some concerns about affordability or your employment.

marks65

hi,

They have a subsidiary company called The Mortgage Works which also seems to have its own criteria for lending. They can turn you down because the criteria has not been met. My application was accepted in principal and after the valuation turned down due to criteria. I emailed and asked for the criteria but they would not release the information to say what the criteria was. After they accept your application, they are in a win / win situation! You pay them for the valuation and it does not bother them whether it is successful or not - they have got your money - website states no refunds. My advice is - check that all criteria has been met !