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Mortgage advice twice declined after AIP stage
Comments
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What do I do next? Any help would be appreciated!
Ask the broker your next move, if he us not confident you find a new brokerI am a Mortgage Adviser
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.0 -
Both Barclays and Virgin have some odd quirks in their underwriting and an AIP is never a guarantee of progress.
The single application, 'joint deposit' issue blocks some lenders as does the mobile phone issue. This should be placeable, particularly if deposit can go to 15%.
No-one should be giving you suggestions for lenders on here without knowing your full case.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 -
Ok I understand.
Just don't know what to do this is a nightmare.
Can I find out any mortgages who wouldn't be interested if the deposit came from an joint house sale? Or any who are less strict on missed mobile payments? Are Virgin and Woolwich strict compared with others?0 -
The problem Sazz is that mortgage applications are like icebergs with two thirds under the surface.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 -
I don't know what to do though.
Would going to another advisor be a good idea or just repeating th exercise?0 -
It is your call for you to decide to leave your faith where it is or seek other views.
Your broker may be on the right track but poor at inspiring confidence, he may be lost, I cannot say.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 -
From your experience do you think if we have been declined twice then we will or won't be able to find an option?
I just don't know how flexibility and criteria is different between lenders.0 -
If criteria was the same between all lenders then the only difference would be price so a single lender would take all the applications on a given day and everything would fall apart.
Lenders go for the business they want, it would seem Virgin do not want business where ownership of the deposit if different to ownship of the house to give an example.
Too hard to say about whether you will be succesful or not. You have mentioned one credit issue with an unknown date. There could be other issues or the one you know if could be too recent, as well as a thousand other facets tk the application.
But do you know who does know everything about your case? Your broker. Its gone 9am now, call him and get a plan or ditch him and start again.I am a Mortgage Adviser
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.0 -
Two declines may simply mean the case has not been adequately analysed before submission.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 -
Two declines may simply mean the case has not been adequately analysed before submission.
Im with Amnblog seems they are just trying to shoot fish in a barrel. One decline can be an accident but two suggests they arent thinkingI am a Mortgage Adviser
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.0
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