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Mortgage advice twice declined after AIP stage
Comments
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It's about looking at the most likely options.
For example there are lending options where a borrower with poor credit can be on the applicant yet 'ignored' for underwriting purposes.
That would have solved most of the apparent problems in this 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 -
Thanks all.
I have asked him to look at 85% to see if that helps as we may be able to stretch to that.
Also now looking to see if we cleared our car loan would that help. It's only £6000 so not sure if that will make any difference.
Interesting that you can not have the poor credit applicant on the underwriting. How does that work? I have no income at all so we presumed this would be fine & he hadn't told us it could be an issue either. Do you know if Virgin do allow this?0 -
Not one for Virgin with a poor credit applicant.
Some lenders make manual decisions which allow them to do this.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'm guessing my advisor should know who these lenders are?
Not saying we had presumed the mortgage was 100% but as we had been 100% accurate with income etc we had thought so long as our documentation matched then we would be good to go.
But that obviously not the case!
Feeling very stressed by all of this and still have no idea if we can find a lender at all.0 -
Do you personally owe debt? Why's your credit history poor?0
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I'm guessing my advisor should know who these lenders are?
A bit too much guessing going on all round by the sound of it.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 -
Hi sazz77,
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Once sent, he'll receive an automated reply with a reference number. Post back with this and I’ll check I've received it.
Kind regards,
Lee
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