Mortgage decline by nationwide...

grant01

So after weeks of getting our hopes up we have just been declined by nationwide after having a decision in principle for past 2 weeks.

What i would like to know is if one bank i.e nationwide, declines you is it possible that another bank/mortgage lender will approve you?

I just need a silver lining somewhere right now...

thanks

Thrugelmir

The answer lies between yes, maybe and no. Before applying willy nilly to other lenders. The root cause needs to be established.

jessnat995

Go to a broker, People avoid these and not sure why, yeah the fees maybe higher, but is it worth the risk?

Whoknowskt89

I used a broker, first full app with nationwide but declined on affordability (apparently adding the council tax for the flat made me miss it minorly if rates rose)
Went to natwest, approved.

This was just over 2 years ago, 71k 77% LTV mortgage on 23k income with expensive commuting costs at the time.
No credit history problems.

jessnat995

maybe a diff broker?

Whoknowskt89

Same broker for me both applications.
He saved me a lot of stress and worth it all.

grant01

ok well the problem lies with the mrs being self employed..

she had 2 jobs up until december 2016, she was employed and part self employed.. She now is self employed full time since beginning of JAN 2017 and they are only taking the records into consideration from this year, even though the records she was keeping for the past 3 years self employed all amass to the the same thing.

She technically makes more money now than what she did having 2 jobs, so im just so !!!!ing confused!! Will any lender take this into consideration or does it have to be a MINIMUM term of 1 year self employed books before they are even considered?

thanks