mortgage declined.

head_meet_wall

We have been declined due to affordability.

However, my husband has 2 jobs, and the broker thinks they only took the salary from one into consideration. He does not know why, perhaps it was a mistake or a decision they made for some reason.

Would it be worth appealing or trying an application with another leander, or does a declined blight our credit records for years to come?

thanks

kingstreet

Was the application placed with a lender which accepts two sources of income?

amnblog

Is your broker not dealing with this for you?

head_meet_wall

Kingstreet- no idea, we used a broker cos we thought he would know this sort of thing.
amnblog- not really, been chasing him for 3 weeks and not got an intelligible answer yet.

kingstreet

The only thing recorded about your other mortgage application is a credit search. No-one records a decline anywhere.

Some lenders accept income from more than one employment, some don't, so placement with the wrong lender would result in the wrong outcome.

We can't tell if the wrong lender was used; the lender is only using one income because there's something wrong with the evidence of the second; or if it's been missed by accident.

The only person who can get an explanation of this is the broker.

amnblog

It sounds like your broker does not know what they are doing.


Where did you find them?

kiddakidda

head_meet_wall wrote: »

We have been declined due to affordability.

However, my husband has 2 jobs, and the broker thinks they only took the salary from one into consideration. He does not know why, perhaps it was a mistake or a decision they made for some reason.

Would it be worth appealing or trying an application with another leander, or does a declined blight our credit records for years to come?

thanks

Hold on a minute

Were you declined or did you not get the right amount for the property you want to buy?

head_meet_wall

kiddakidda wrote: »

Hold on a minute

Were you declined or did you not get the right amount for the property you want to buy?

I dont know. We actually had an e-mail telling us we were approved and the offer was in the post.
Only when it didn't arrive after a few days did we chase the broker.

After a week of back and forwards, promises of it being faxed to us and e mailed and sent by registered post, he suddenly told me this morning that we had been declined.

Im very confused!

kiddakidda

I would be too.

Are we talking a formal offer for a mortgage? One that's issued after a valuation?

head_meet_wall

yes, Kiddakidda, after a valuation, but I am now not even sure if that went ahead. I was told it was just a 'desktop' valuation, which is why they didn't contact the estate agent for keys.

No fees of any kind have been taken from our bank account.

Something is very fishy, and broker seems reluctant to investigate properly. he keeps blaming his 'BDM'

kiddakidda

As far as I am aware desktop valuations are only normally done on re-mortgages, not on new house purchases. As you mentioned estate agents you must be talking about a house purchase.

It's not acceptable, if he doesn't get you some answers try speaking with the lender.

That valuation situation doesn't sound right but the experts on here may put me right.