Refer v accept

Sheep

Does anyone know the difference between an accepted application where the lender needs to see payslips and statements etc verses an application that is referred with the lender saying they need to see payslips and bank statements to change it to accept?

If you have to send the same docs in for both then whats the difference?

Thrugelmir

Unsure what the difference is. If an application was "accepted" then why would further information be required.

kingstreet

Presumably, the lender has a two section process where the first part of the application is an agreement in principle which provides an accept, refer or decline outcome.

If a decline, you are unable to proceed to full application.

The refer means the documents are required at an earlier stage and an accept is only given when they are checked and acceptable.

If you get an accept at agreement in principle, you proceed through the full application and submit the documents at the later stage, after full app submission, as normal.