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mortgage rejection and withdrawal
ajmh15
Posts: 5 Forumite
On applying for a mortgage you usually have to answer the question ' have you ever had a mortgage application regected?'.
Would you have to answer 'yes' if you had had a mortgage offer withdrawn? Is it the same thing?
Thanks
Would you have to answer 'yes' if you had had a mortgage offer withdrawn? Is it the same thing?
Thanks
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Comments
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Most lenders no longer ask that question.
However, if it does and you've had an offer withdrawn, you would need to answer yes and provide details if required.
Why was the offer withdrawn?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Sorry what I ment was are they the same thing? It hasn't happened yet it's a hypothetical question I'm trying to understand more about the terms used.
Thanks0 -
???????????????I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Sorry what I ment was are they the same thing? It hasn't happened yet it's a hypothetical question I'm trying to understand more about the terms used.
Thanks
Sorry, but why would you take the time to register on this site and open a thread asking this question if you have not had a mortgage offer withdrawn??"You were only supposed to blow the bl**dy doors off!!"0 -
Just for fun?I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
This information will help us decide what action to take in our current situation.
If you have ever had a mortgage declined this follows you around for the rest of your life (potentially) and could be detrimental to future mortgage applications, I would like to know if having a mortgage offer withdrawn is the same thing.
Thanks0 -
Declined for a mortgage is a fact of life. Doesn't mean that isn't a lender who is the right fit for you. Withdrawing a mortgage offer will be the result of something coming to light of which the lender wasn't previously aware. The application process is thorough however does rely on complete honesty from the applicant. ( Read the declaration on the mortgage application form that you need to sign).
Lenders use an organisation called NHunter (part of Experian) to maintain records of all applications and those that do try and bend the rules are there held on file for all to view.0 -
Thrugelmir wrote: »Declined for a mortgage is a fact of life.
Particularly for direct to lender applications as is evidenced throughout this forum.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Just in case anyone cares I phoned NatWest, even though our mortgage is not with them they were happy to offer advice and answer any questions. They said that having a mortgage offer withdrawn is completely different from being denied a mortgage.0
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In what way?I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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