Employment Search Failed!!!

sunnyubaid66

Hi All

FTB, looking to get a house with my sister, house value 680k, deposit £190k so about 73%LTV. My salary is 80k and my sisters 21k

We got a a DIP from Nationwide and got declined for the mortgage once we done full application. Head office picked up case for audit and rejected and the only reason they gave us was "Employment Search Failed" no other information and we can't even contact them for any more information as head office doesn't have any contact number, we then got a DIP from Halifax and went to branch to do the application, all done and the advisor told us all seems good, 2 days later he tells us head office picked it up and said same thing "employment fail"

Abit of background, I work for a newly registered company (2014) and have been employed since November last year. Worked in the same place since June 2016 but as a different role and different pay.
On our applications we put in that I get Rent from another property which I got inherited recently (February 2017) this is not something I have taxes for etc as it's not been a year and have been told by accountants not to worry about it till next year.

My questions is would the rented property be the issue for the employment search fail?
I called up HMRC to check if all my details were correct and taxes up to date etc and they confirmed it.

I have now applied through Natwest and submitted all papers payslip, bank statements etc on Friday through internal mail in a branch. (I applied online)

Has anyone had a similar issue or any suggestions on what to do, Would Natwest have the same issue ? Just soo freutaratred at the moment.

Thanks all

elsien

I think you need to stop making individual applications which if rejected could have an impact on your credit history, and find a decent broker who will have more idea of any potential issues and which companies may be more prepared to give you a go.

minimike2

Are you putting down your rental income on the applications despite not yet having completed tax returns to evidence it?

cns06

I was under the impression that rental income is not treated as income for lending purposes on primary residence, IYSWIM.

Lilla_D

Yes, the rental income should not be relied upon if you've just inherited the property.
And yes, you'd be better off going via a broker, who can help you - for example, if a lender comes back with an excuse, we have contacts to investigate matters further and help overcome issues.

As now you've done 3 applications with 3 credit searches, Natwest would normally ask why the previous 2 have been declined and they may just come back with a decline themselves. If they do, you should wait a few months before doing any more searches, as you are now starting to look suspicious for lenders. When you do apply next, please try a broker and see if you get a different result.

Re cns06 - it depends on the lender, but some accept rental income even for primary residence subject to T&Cs.