Broker mistakes in Application

Blueoctopus

Hi,
I wondered if anyone could offer advice, I contacted a mortgage broker to see if it was possible to get a mortgage on the house we live in and rent. It is owned by my parents and they want to gift us the equity in place of a deposit. (yes they understand they will have to pay capital gains tax based on market value, and have plenty of other assets to pay for care fees in the hopefully distant future )
The broker advised that would be possible as a consessionary purchase and proof deposit would just be a matter of a signed form.
I then asked how long I had to be employment as I had only been on a permanent contract since January following a short period as a student (I dropped out of the course and got a new job) she assured me this wouldn't be a problem and we went ahead with the application.
We provided mine and my husband's payslip(January) and our latest bank statement to the broker when she checked us for affordability.
Now the lender is asking for my last payslip from my previous employer (which was actually the same one just a different school) but this is dated last July as I don't have continuous service.
And also for proof of deposit as equity a memorandum of sale or the cash in a bank account. Which obviously we don't have as the equity is in the house we live in and are buying.
When I looked at the application on the brokers tracking page it shows she has not put it through as a concessionary purchase and has put my previous employment as running into my current employment without the break.
Obviously it is clear the application will not be approved as I can't provide the documents they have asked for but my main concern is whether this will affect our chances of trying again elsewhere as Nationwide have done a hard credit search.
Sorry for the essay but I feel absolutely sick and wish I'd never started as I can't see us being approved with a decline (as I'm sure this will turn out to be) on our credit reports.
And to top that all off the broker is not replying to emails or returning phone calls since I told them about the documents on Thursday.
Any advice?

kingstreet

This won't be declined.

There is no record of a decline on your credit files even if it is.

The broker needs to change the data which suggests you had employment immediately previous to current. That is why the last payslip from previous was requested.

The broker needs to amend the deposit source so what Nationwide call "genuine bargain price" rules apply.

There are a couple of minor keying errors here, but no deal breakers.

Blueoctopus

Thanks for quick reply.

I am surprised to hear you think its minor errors, but do believe you as I've read several of your posts and you seem very knowledgeable. I'm finding this so stressful as I don't understand the process.

I will try again to contact broker on Monday but it is good to hear it isn't over yet.

kingstreet

I've made daft mistakes myself.

We email a copy of the illustration, application, reasons why etc to the client once the application has been submitted so my mistakes are all there to see.

You give us feedback and we make any necessary changes.

As I said, Nationwide's system asks "is there a previous employer?" and if you tick the box, it requests last payslip. If you don't tick it, it doesn't. It makes no difference to the outcome, but it does make a difference to the documentation requested.

If you are being asked for proof of deposit, that's because the wrong drop down was selected in the deposit section.

The broker can phone through "material changes" but they do take days to work through the system, so you do have an incentive for greater accuracy.

Put your issues in an email to the broker and give them a chance to correct them with the lender. The valuation will still have been instructed so no delay will result.

There is no longer a plane towing a banner saying "Your mortgage has been approved subject to valuation" so don't expect one. Expect a week to ten days of nothing and then a text or email to say 'valuation received', another saying 'valuation accepted' and a final one saying 'offer issued'.