Mortgage application tomorrow TERRIFIED!!

Senior_Paper_Monitor

As you are obviously in a state of hypertension (and I could do with updating our database to cover this one) I have just spoken with the team that deal with out of criteria issues at Woolwich and they confirm that subject to solicitor being happy and relevant occupant waiver forms being completed they should be happy with this one !


Relax - sorry to scare you

ACG

As above im pretty sure a joint deposit on a single application is fine with Woolwich.

shimano

With Woolwich you can get a good feel of how they rate you from the AIP documentation list. If you rate highly it will come out with 1-2 docs.

Not that it will change your outcome anyway as if the AIP was OK and there's nothing inconsistent with it should be OK.

cooperjoint

Awww thanks everyone - am feeling a teeny bit less anxious now!

I wish I had joined this forum last month instead of throwing all my panicky questions out there the night before my mortgage application lol!

That is good to know about the joint deposit info, good stuff!!

Am still freaking about a bit that they will dig up some dirt on me or something. I had a few credit issues a long time ago now but they do not show on my report and they were settled in any case, so hopefully I will be ok

Appointment at midday - wish me luck!!

cooperjoint

OK so I was declined by Barclays/Woolwich - absolutely gutted

Even the mortgage advisor was shocked as Experian report I can see says 965 Excellent and only link to maiden name not on there.

How can AIP be given if then Experian then declines the formal application? Especially when credit score is excellent?

She is speaking to one of her managers this afternoon then maybe take it to and underwriter to get it overturned if something simple. Will get a call by 4pm today.

If still no, do I have any other options?

I'm so upset

amnblog

Is mortgage broker a better option?

ACG

There are 2 types a decline with Woolwich - a full on your not what we are looking for or a soft decline where there is something kicking it out but you might be able to make it fit with some more info or making a slight change.

I have had declines turned over with Woolwich before now so dont give up hope just yet.

But based on what you have said, I think Woolwich were a good fit. There may be other options and as amn says its probably worth speaking to a broker to see if anything can be done.

cooperjoint

So is the decline thru Experian or Woolwich? I'm totally confused by it all now and slightly shell shocked as was hoping for good news given the AIP and credit report, also thru Experian. It doesn't make sense??

I need to find out why they declined I guess then go from there. I'll be so mortified if I lose the house, but I know there have been millions in my position

Thanks again for the further updates

m00se1986

Experian just provide data, it is the lender (Woolwich) that uses that data (amongst other things) to make a decision.

I am sure things will work out for you in the end, either with Woolwich or another lender. Good luck!

ACG

Ignore the score with equifax/experian - its worthless.

The lender takes the information from your credit report + the information from your application and then scores it using their own system. The decline is from Woolwich but it may get accepted with a conversation from your advisor.