mortgage declined.

head_meet_wall

The lender wont speak to us, against FCA regulations apparently.
We have given this up as a lost cause and will begin a formal complaint on Monday.
However, I dont want to loose the house we are buying, so will try with a different broker tomorrow, and see if we can get something rushed through.

head_meet_wall

amnblog wrote: »

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


Where did you find them?

Sorry, I missed answering this one. They are part of a national estate agent, not one involved in this house buying chain at all. I thought he would be ok, and I liked him at the first meeting.

I must be more careful in my judgements next time!

dotdash79

head_meet_wall wrote: »

The lender wont speak to us, against FCA regulations apparently.
We have given this up as a lost cause and will begin a formal complaint on Monday.
However, I dont want to loose the house we are buying, so will try with a different broker tomorrow, and see if we can get something rushed through.

The lender will speak to you if you call them. But the main thing is to speak to another broker not attached to a chain of estate agencies.

dawyldthing

You can apply for it yourself, it means you have to do the leg work but I did it and it wasn't that bad. I had mine with the Halifax and would totally recommend them. From start it finish they were helpful and approachable. Do go with what term you want in mind as I was going to go for a 2 year term but got talked into a 3, but it worked out in the end.

kiddakidda

It's not about recommending lenders, op has a special set of circumstances that are best considered by a decent mortgage broker.

Your broker has let you down, you need a decent one. One that can find the right lending criteria for you.

Armorica

head_meet_wall wrote: »

The lender wont speak to us, against FCA regulations apparently.

Regulations that apply to the broker or to the lender? (I'd keep digging on that bit too...)

head_meet_wall

Armorica wrote: »

Regulations that apply to the broker or to the lender? (I'd keep digging on that bit too...)

to the Leander. I phoned them direct and they point blank refused to speak to me, telling me that fca rules meant they couldn't.


I thought I might try the broker who is
with the estate agent who has two of the properties in the chain. That way he will have an interest in getting it sorted fast. What do you think?

Dave_Ham

Search this forum (you can use search bar) for estate agent adviser or estate agent broker and you will answer your own question

Through incompetence or sharing information about your case you should not, this is a sure fire way to lose the house

As you said firstly sort out your mortgage and then make the complaint.

Which lender declined you?

How tight is your borrowing requirements?

How long have both jobs been going for and are they sustainable in the mid to long term?

head_meet_wall

Dave_Ham wrote: »

Search this forum (you can use search bar) for estate agent adviser or estate agent broker and you will answer your own question

Through incompetence or sharing information about your case you should not, this is a sure fire way to lose the house

As you said firstly sort out your mortgage and then make the complaint.

Which lender declined you?

How tight is your borrowing requirements?

How long have both jobs been going for and are they sustainable in the mid to long term?

Lender is Santander. Joint salary is about £26k, we applied for £70k, which is a ltv of just over 35%
We haven't been at our jobs long, me since July, husband since May. I thought that might be a problem, but broker assured us it was ok. We have both passed probation, and our jobs are as secure as anyones can be in the first 2 years

The mortgage is affordable for us, I know it is, as its only about £25 a month more than we are paying now, and we have no problems, but I don't know if it is affordable according to the lenders criteria.

Dave_Ham

It certainly feels weird as that should fit

Santander are marmite in mortgage world as some on here never use, some love using

They certainly have been better behaved over the last 3 months for sure, coupled with quicker

Given your need for speed and employment length, much will come down the the specifics and if you have non consecutive employment prior to these roles then the lender pool is limited further

Still sounds like a decent broker will find a decent solution to this, but appreciate you need to act quickly..

Make a few calls today if I were you to be on the front foot for Monday, which typically is a busy day for brokers

Best of luck