AIP to Offer downfall due to adverse credit score

ashe

Jaywood89 wrote: »

No i didn’t ring as I don’t want to undermine the broker.

NatWest have already done hard searches in my score and I was upfront about my history. So if it down to credit score I’ll be annoyed! Because they could of saved me a month of running and around if they were always going to say no

Have you phoned your broker to ask them to phone them? Would seem to be the logical step.

Jaywood89

im just going to wait and trust they are dealing with it for now. all this happened late in the afternoon yestuerday. i imagine they will get back to me soon enough. would rather not go chasing bad news.

like i said mainly updating my post as a way of venting the stress of it all without constantly harrassing my broker.

Jaywood89

Deleted_User wrote: »

If it's down to credit score, you won't have applied for a mortgage in the UK.

bit confused what you mean?

ashe

Jaywood89 wrote: »

bit confused what you mean?

What he means is that credit scores are not used in the UK. Credit scores are only meaningful to you and me as we see them in reports, but lenders use their own criteria and will look at a credit reports findings, rather than saying 'this ones <500, lets decline'

Their systems may interpret the report and give a score for the lender, but that's nothing to do with what you see.

Jaywood89

ashe wrote: »

What he means is that credit scores are not used in the UK. Credit scores are only meaningful to you and me as we see them in reports, but lenders use their own criteria and will look at a credit reports findings, rather than saying 'this ones <500, lets decline'

Their systems may interpret the report and give a score for the lender, but that's nothing to do with what you see.

thank you for clearing up that for me. i worded that wrong i think. i was aware the score is useless what i eamtn to say was if its based on my credit file as a whole id be annoyed as i would of thought that would of been the first box they needed to tick. so coming back this late in the game and saying your credit conduct isnt goof enough would be abit annoying but id be mostly annoyed with my broker as i wouldnt expect him to match me with a lender that may see this as a deciding factor.

but im a novice at all of this so i dont pretend to understand the finer details of it all. just so stressful!!

Supersy

From the way i have seen on my Equifax report (Had Natwest offer last week), is in total 3 hard searches from Natwest Intermediary solutions and a couple of soft searches too all before offer, I would of though if your issue was your credit file you would of been declined pretty much straight away.

ashe

I'd chase your mortgage broker - its what they are there fore. It could just be to request additional info.

Jaywood89

So I heard back.....

The lender will only lend 87k of the 119k needed.

I just don’t know what to Say or do now. Feel like this has all been a waste of my time and money. And it’s dragged on for 2 months to get to fall at the last hurdle.

Even if I sold one of my cars I could only push the amount to £97k which is still not going to cut it.

Can’t really direct the annoyance at anything or anyone really just really disappointed in the outcome !!!9785;!!!65039; Thanks for reading my posts and offering advice guys!