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Coventry BS Mortgage Application
Levs01
Posts: 224 Forumite
Hello,
I posted this in the awaiting decision thread but got no response. Thought I would try a new post instead.
My story, applied for a mortgage with Santander, was rejected on undeclared debt. There is no undeclared debt, it is a CC that was paid in full a couple of months before application and its still showing on the credit file. Santander will not accept proof from CC company that the debt is settled and will wait for the credit file to be updated. They have said that they will not re-dip' it for 5-6 weeks.
That doesn't really work for us and broker has advised that they are very rigid 'computer says no' company. He has advised, and we agree, to apply elsewhere.
We have put an application into the Coventry BS (7/7/16), they have everything the could ever ask for, as we had it all ready from the Santander application and have sent our broker copies of both our credit files so nothing trips it up there again. Does anyone have any recent experience with the Coventry on timescales etc? Santander have set us back 4 weeks so hoping it wont take too long. The only information I can find seems to be a couple of years out of date.
I appreciate its a bit of a how long is a piece of string question but was just after any recent experience.
Many Thanks
I posted this in the awaiting decision thread but got no response. Thought I would try a new post instead.
My story, applied for a mortgage with Santander, was rejected on undeclared debt. There is no undeclared debt, it is a CC that was paid in full a couple of months before application and its still showing on the credit file. Santander will not accept proof from CC company that the debt is settled and will wait for the credit file to be updated. They have said that they will not re-dip' it for 5-6 weeks.
That doesn't really work for us and broker has advised that they are very rigid 'computer says no' company. He has advised, and we agree, to apply elsewhere.
We have put an application into the Coventry BS (7/7/16), they have everything the could ever ask for, as we had it all ready from the Santander application and have sent our broker copies of both our credit files so nothing trips it up there again. Does anyone have any recent experience with the Coventry on timescales etc? Santander have set us back 4 weeks so hoping it wont take too long. The only information I can find seems to be a couple of years out of date.
I appreciate its a bit of a how long is a piece of string question but was just after any recent experience.
Many Thanks
0
Comments
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If it shows on the credit file Santander will count it against affordability at the time of application. Surprised it took you four weeks to get to that point.
Coventry BS should be sensible on timescales.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 -
If it shows on the credit file Santander will count it against affordability at the time of application. Surprised it took you four weeks to get to that point.
Coventry BS should be sensible on timescales.
Thanks for your reply, it wasn't an affordability issue, the balance was minimal and wouldn't of affected it. It was purely that it was undeclared. It was literally on the final stages of underwriting it was flagged. Oh and the 4 week set back is my view of how long it's going to take on us going back to the start, hoping it's less and dreading it being more.0 -
The broker has the advantage of having already prepared everything for Santander. So things should be quicker this time.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 my experience with Coventry they tend to be quite quick with everything they do and they are very efficient. So you should hear back v soon.0
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