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Mortgage declined, how long should we wait
casperuk1
Posts: 1 Newbie
We are about to attend our mortgage application 'interview' next week and I'm fairly certain we are going to get rejected. It took nearly 2 weeks for the AIP to come back and looking at our accounts, they don't (IMO) look great at all.
The Lender was really picky about what they would lend and originally wanted us to go from 5% to 20% deposit for the same house (there was no way we could finance that). Eventually they went to 10% on a high rate 5.5%.
If (when) we are declined, how long should we wait until we re-apply? If we are squeaky clean for say 3 months, is that long enough or will the application appear on our credit report?
C
The Lender was really picky about what they would lend and originally wanted us to go from 5% to 20% deposit for the same house (there was no way we could finance that). Eventually they went to 10% on a high rate 5.5%.
If (when) we are declined, how long should we wait until we re-apply? If we are squeaky clean for say 3 months, is that long enough or will the application appear on our credit report?
C
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