Help !!

Torfoxwell

Has anyone had their mortgage application go back to the underwriters after valuation ? Im getting so worried - my broker said it was approved subject to valuation and now the underwriter has asked for the case back...i do have defaults which were declared...is this normal practice? Honeatly getting so upset about it all , my broker aaid he wasnt sure - its never good when underwriters look at things but not to worry - thing is there is no way we can strectch to 15% deposit ( broker said minimum of 15% for adverse , i have 2 defaults 2011)

csgohan4

underwriters doesn't mean rejection, you need to see what other information they want.


Underwriters want more information for variety of things, audit e.t.c

Torfoxwell

Thank you , just find instead of being excited about my first house im getting upset about it all

Torfoxwell

Broker said something about a late payment on a default bit he wasnt sure....i just burst into tears on the phone

csgohan4

Torfoxwell wrote: »

Broker said something about a late payment on a default bit he wasnt sure....i just burst into tears on the phone

did broker request your credit files from all three CRA before he submitted? If not why not?


Is he paid upfront, fee free or on mortgage offer?

Torfoxwell

Yeah , we looked at them all - applied to halifax as he said they were the only one on the high street that was leinent towards defaults

We paid him before - i trust him , hes my cousin and i know hes good - i jist wish i knew more of what was going on ....

csgohan4

Torfoxwell wrote: »

Broker said something about a late payment on a default bit he wasnt sure....i just burst into tears on the phone

are you sure you trust him if he's not even sure. Money and family should never mix. Always get an independent broker, with no ties to yourself if possible.


A broker that you pay on mortgage offer is much better if you want to pay them, means they will work for it, rather than put it in a pile

Torfoxwell

Yes i do trust him , hes never let me down before , but wether i can take the stress of numerous mortgage applications thats the thing...this bank holiday is getting on my wick - it means its not being looked at today and the underwriter said she wouldnt look at it thursday and then people are not back in the offices until tuesda- so thats a week since the vaulation...