Mortgage Refusal

barry9999

I'm currently applying for a new fixed with the same lender I've had for the last five years, and tbh I've been amazed by the amount of questions/paperwork/statements etc they want, and I've not missed a payment on anything, ever.

csgohan4

ferry wrote: »

Is it safe to assume that there is very little success in the mortgage market these days .Surely only the squeaky clean benefit?
Mortgage providers turn a blind eye to fact most people are thrown a curve ball at some point during a 25 year commitment. Many will back on their feet after a year or so but will have to wait at least 6 for the market to open up for them to any extent.
Come to think of it credit card providers are no different.
It will cost you more to survive if you have an unfortunate episode in your life,often beyond your control,as you will be subject to rates that are likely to mean you will be punished for a very long time...

Life insurance and income protection springs to mind

ferry

csgohan4 wrote: »

Life insurance and income protection springs to mind

Life's choices I guess...
I understand your thoughts but affordability springs to mind.
If I were to use your life insurance example, wife was diagnosed with mild asthma and where some would not insured any that did would do so at an unaffordable huge hike in premium

minimike2

You are going about this all wrong. With 5 in 24 and 2 in 12 missed payments you shouldn't be narrowing down your own list of lenders with little regard for policies. Seems you are listing lenders by rate.

You need to stop making applications to the lenders you have listed and look for broker to take this up for you, who will be able to present you with lenders who will consider you.

ACG

ferry wrote: »

Life's choices I guess...
I understand your thoughts but affordability springs to mind.
If I were to use your life insurance example, wife was diagnosed with mild asthma and where some would not insured any that did would do so at an unaffordable huge hike in premium

I think you are misinformed.
I used to work for a life office and the asthma would have to be quite severe to get a loading and you would need to be all but hooked up to an oxygen tank for an outright decline on life insurance.

Infact, I have mild asthma and I am just looking at insurance myself with 2 companies in particular and they are both happy to do it at normal rates.

I think if you are getting a loading/decline it is either not mild or there is something else.

PixelPound

minimike2 wrote: »

You need to stop making applications to the lenders you have listed and look for broker to take this up for you, who will be able to present you with lenders who will consider you.

OP, this is an important fact if you have a string of failed applications then future lenders will deem you a higher risk and more likely to turn you down than if you hadn't applied to any. Maybe you weren't aware of this?

CraigS1969

minimike2 wrote: »

You are going about this all wrong. With 5 in 24 and 2 in 12 missed payments you shouldn't be narrowing down your own list of lenders with little regard for policies. Seems you are listing lenders by rate.

You need to stop making applications to the lenders you have listed and look for broker to take this up for you, who will be able to present you with lenders who will consider you.

Thanks. Have already spoken with one and will be getting a callback tomorrow.

CraigS1969

nic_c wrote: »

OP, this is an important fact if you have a string of failed applications then future lenders will deem you a higher risk and more likely to turn you down than if you hadn't applied to any. Maybe you weren't aware of this?

I was, but I've tried to restrict my applications to those who only do a soft search. I think Coventry did a hard search, but the other two are soft.

csgohan4

CraigS1969 wrote: »

I was, but I've tried to restrict my applications to those who only do a soft search. I think Coventry did a hard search, but the other two are soft.

Still a search regardless and not good in such a short space of time

Allotrope

I got my mprtgage through Santander. Barclays refused me on affordability. I had 40% LTV and Santander, whilst interested in affordability, took the LTV more into account than Barclays. Santander also do a soft search.

Lenders do vary quite a lot on what they're looking for so worth getting a broker.