FTB mortgage rejected with Barclays. 95% LTV

Confusedftb_2

Hi,

I'm feeling a little deflated and was looking for some honest advice please. Partner and I have had a bit of trouble finding our first house and we have finally got into a position whereby we've had an offer accepted and are progressing with application.

We have appointed a solicitor, our mortgage advisor completed checks prior to us even searching for a house (AIPs received). My bank (Natwest) also give us a AIP based on a face to face direct conversation.

However, upon application our mortgage was rejected by The Woolich today due to a default on my partners acccount in Jan 2013. He paid the account off within 6 months and is virtually debt free now (and has been for at least 6 months). A small credit card of circa £500.
I don't have amazing credit, to be honest. Most of our loans and credit card debt is in my name, but we still Pass on affordability (for what we're looking for).

Our MA said he would try another provider tomorrow, Natwest. He thinks my history with them (all current account, loan, savings all with them) but I'm feeling anxious. We've now got a hard search from Barclays on our credit file and don't really want to add another to be disappointed. The MA seems indifferent as to whether it will go through successfully, so we could be about to lose our dream home. But I'm confused as the MA knew all of these details prior to application. So why weren't these concerns raised before? At AIP stage he talked very confidently about our situation. In fact our situation has considerably improved since our original conversation with MA last year.

Has anyone been in this situation before and had a second application approved or are we really asking for the moon on a plate?

Nb: MA is completely independent and not recommended from any of the Estate Agents we've been through. And we're looking to borrow 95% LTV.

Thanks in advance

hunt85

Why did he DIP with natwest then apply with barclays? Yes you can be rejected by one and accepted by another though, in fact its quite common. Can you get to 90%LTV? sometimes this can help if your credit isn't brilliant.

Confusedftb_2

We went to Natwest directly intitially, but then the MA did the search and Barclays came up best.
I really wish we could get to 90% LTV but unfortunately it means finding another 11K. But thank you for taking the time to reply, it is appreciated and reassuring to know it could happen. We won't count our chickens just yet.

dlmcr

I think you need to sack your mortgage advisor tomorrow and find a new one as a matter of urgency before any more searches or applications are made. If my mortgage advisor behaved the way yours seems to be doing I would hit the ***** roof.

Confusedftb_2

Well to be honest, we went through a broker to stop this type of thing happening. The problem is the vendors are wanting to push this through asap so we're just going to frustrate them by starting this process again