Mortgage declined via broker

kayley.m

Hi all

Im just after a bit of advise. I had an offer accepted on a house on 11th and settled on a broker to arrange the mortgage on the 12th October. Sent all the requested info to him.

Solicitors are arranged... the broker came back on 19th and said he was checking somthing with the under writer of the lender and said they were happy there should be no problem. On the 20th he said he would send me the stuff to look and said he had found a mortgage and it had gone to the underwriter to check some info happy days. He emailed me and i was happy for the application to be send off on my behalf.

On the 21st he called to say it had been declined and to send him a copy of my credit report and that he would ring me on the 22nd.

He rang but with no new information i asked at what stage the application had been declined and if i had received a AIP he said it was declined at that point and he advised he would ring the lender first thing monday (today) I told him i was starting to panic and if he could ring or email me monday with an update even if it there was no new news just to keep me in the loop.

He has hasn't rang or emailed and has not replied to my email asking for an update.

I am a bit stuck as to what to do next as everything is in place apart from the mortgage.

I did have an AIP with my bank but it was for 90 LTV and i need 95%.

Has anyone else been decline via a broker and if so how fast were they to get back to you and did you manage to get a mortgage?

i have huge reservations when it comes to people agreeing to ring me and then dont reply.

I did speak to another broker a few months ago? I dont know whether to jump ship or stick with him.

Thankyou:(

ACG

Pretty poor that they have not come back to you even if it is just to say there is no news under the circumstances.

Tricky to know what to do as you have no idea what is happening but I think I would be looking for alternatives.

kayley.m

Thanks for the reply i just feel rude as he has done quite a bit of the leg work bar getting a mortgage offer that is lol

It just concerns me that a mortgage he recommended was declined at the aip stage after going to the underwriter? Surely if he was looking for mortgages tailored to my situation it should have gone past that stage? Or not as the case may be.pl

Its to late to do anything tonight so I'll see if i get a response tomorrow and look for another broker. 2nd time lucky

Pixie5740

Strange that he's requesting a copy of your credit report (just one or all 3) after submitting the application. It would have been more sensible to view those before choosing a lender.

kayley.m

Yeah He said to check experian as thats who the lender uses. Nothing untoward other than 1 or 2 missed payments almost 6 years ago.

I have checked my reports on noodle and clear score every month and i sign up to experian and equifax as and when the mood takes me.

He never mentioned the credit report 1 during the last few weeks only requested it after the because it got declined ��

csgohan4

Estate agent linked Broker?

kayley.m

Its london & Country im just using for the time being anyway

ap1985

I've had a really good experience with London and Country but i think it all depends on which advisor you get.

If your advisor or case worker doesn't get back to you by today I would recommend speaking to someone else...If your credit rating and affordability are on par you should have no problems getting a mortgage.

However, ideally your advisor should have checked your credit report etc before making an application.

Have you tried calling L&C switchboard number to see if you can speak to someone else about your case?

kayley.m

I have found another broker so hopefully somthing starts movin i hope as the estate agent is hot on my heels today asking for updates :eek:

And i still haven't heard from l&c and not keep on the thought of getting another advisor incase they are the same as the last one.

We live in hope i guess

Thrugelmir

kayley.m wrote: »

I have found another broker so hopefully somthing starts movin i hope as the estate agent is hot on my heels today asking for updates :eek:

Is the broker aware that you've been declined elsewhere.

kayley.m

Yeah i told them and they asked who the lender was and they advise me to send my credit report to them 1st before sending in wage slips just incase they couldnt help me and have now took the rest of the information wage slips p60 and all that. If i knew the reason it was declined that would help but no one can tell me worst luck