Mortgage Application Confusion

cahillg81

Why are all your posts so long?

Jhoney_2

cahillg81 wrote: »

Why are all your posts so long?

At the end of my read, this was rather funny :rotfl:

However, OP is having quite a time of it so give them a break. Even Thrugs had compassion enough to say:

Thrugelmir wrote: »

You are entitled to rant if feel the need to do so. :beer:....

Though volumous, it is informative for readers in a similar situation and there has been a merry dance going on here.

What I would say, is that is not uncommon across most lenders. I would add that they do this to exisiting borrowers too though, so the experience isnt exclusive in that sense.

I tend view them all as dodgy salesmen e.g EAs or whoever, they say anything to get 'first bite' of your business, If they decline you lending/can't sell your property etc, they move on to the next opportunity.

Pick over what they have told you that's factual and YOU can change, then get it done then see a broker who can match your circumstances to the best lender.

Good luck

DracoNoir

cahillg81 wrote: »

Why are all your posts so long?

Beacuase I don't expect anyone to be able to give a helpful I sight if I put

"I haz problem wit bank plz help"

I thought the purpose of any forum is to seek help and advice whilst sharing your experiences for those who may end up in a similar situation in the future, not a platform for self-superiority.

The reason that I post my situation in detail is that I have no clue about what is 'normal' in this process. To me it all seems highly illogical and completely fabricated and it is nice for someone who is more knowledgeable to have read my entire situation and say "yep, it sucks but that's the way" or "no something is definitely off here and you might consider taking it up further".

That and the fact that there is nothing more annoying that finding a thread that matches what you're going through only to never find out the outcome because the OP couldn't be arsed to come back and say thanks to those that helped.

Anzhelka

did you try shared ownership? we also don't have a huge income...just over 30k a year and we had only 5% deposit, however we have got our house through shared ownership scheme and we've paid only 6k deposit. however house wasn't as cheap as yours, it was 170k new build.

cahillg81

DracoNoir wrote: »

Beacuase I don't expect anyone to be able to give a helpful I sight if I put

"I haz problem wit bank plz help"

I thought the purpose of any forum is to seek help and advice whilst sharing your experiences for those who may end up in a similar situation in the future, not a platform for self-superiority.

The reason that I post my situation in detail is that I have no clue about what is 'normal' in this process. To me it all seems highly illogical and completely fabricated and it is nice for someone who is more knowledgeable to have read my entire situation and say "yep, it sucks but that's the way" or "no something is definitely off here and you might consider taking it up further".

That and the fact that there is nothing more annoying that finding a thread that matches what you're going through only to never find out the outcome because the OP couldn't be arsed to come back and say thanks to those that helped.

The flip side is the reader has turned off before you get to the meat and bones of what the problem is.


A clear and concise explanation in as a few words as possible is best.

cahillg81

DracoNoir wrote: »

Hi all,

Hope someone can shed some light!

As a FTB but this just doesn't make sense to me:

I am married, with a 2 year old and I am self employed, with a fairly low income but get WTC and CB.

Called Santander done and affordability check provided required evidence. Got a DIP.

we put an offer in on a house for 75k which was accepted and went back to the lender, saying we would like to borrow 69k. it was declined when the credit check was done.

I now have a broker trying to find me a mortgage but that'll cost me a bit extra

From your OP that is really enough info I could have taken more out.

Your first mistake was venturing into this blind and calling one lender on the recommendation of a friend. That part was naive. You should have gone to a broker first. You could have saved yourself taking time off work.

You should not be reliant on benefits to pay a mortgage. The fact some lenders take them into account is up to them.

When you got the DIP they would have done a credit search, so I can only assume they never done a DIP or if they did then there was a material change between doing the DIP and application.

DracoNoir

Well, again not knowing all the ins and outs, where does someone go for a mortgage? Bank or building society. You don't see many adverts for mortgage brokers around...

Fair enough - I'll be more succinct in future =]

So what you're saying is everything I have experienced is totally acceptable and to be expected? There is nothing that the bank could have done differently (or informed me of) that a lay person shouldn't be expected to know? That was really the bones of this thread.

cahillg81

Pick up any yellow pages or Thomson local or search the internet and look under broker and you will find thousands of options.


Most of the comparison sites have a link up with a broker as well.

But in short what has been done doesn't seem abnormal to me. There seems to have been some confusion which could probably have been avoided.

DracoNoir

Thanks. This was what I wanted to know.

DracoNoir

Update. Credit balance was paid but of course interest was added when the statement was issued. Despite my overpayment this left my card with £7.42 on it.

Not good enough for Santander. I paid the balance immediately, but again they insist on a credit card statement showing £0.00, not a statement of the account it was paid from. CC Statement wont be produced until next month - which they know.

What the F*cking F*ck?