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Remortgage
pepperpop
Posts: 37 Forumite
Hi
My wife and I were recently refused a mortgage with accord (debt consolidation - via an all of market broker- fee payable upfront to broker refunded if they can't get us a mortgage). Reason given debt to income ratio too high (despite us paying off all debt other than mortgage and having 30% equity, which would live us with loads left each month.:) The broker has now put in an application with Clydesdale - the valuation has come back fine, Optima Legal have been in touch re doing the legals (these are free with this mortgage). Clydesdale carried out a money laundering credit check and quotation check and have so far just come back to get confirmation of a loan settlement figure and confirmation we are handing back out lease car and not replacing it. I am a bit concerned about all of the credit checks being carried out on us (first by accord and now by clydesdale). My broker said it shouldn't have any effect but thats not what I've been reading online? Obviously being turned down once worries us more that we will get turned down again and then what? Any advice much appreciated.
My wife and I were recently refused a mortgage with accord (debt consolidation - via an all of market broker- fee payable upfront to broker refunded if they can't get us a mortgage). Reason given debt to income ratio too high (despite us paying off all debt other than mortgage and having 30% equity, which would live us with loads left each month.:) The broker has now put in an application with Clydesdale - the valuation has come back fine, Optima Legal have been in touch re doing the legals (these are free with this mortgage). Clydesdale carried out a money laundering credit check and quotation check and have so far just come back to get confirmation of a loan settlement figure and confirmation we are handing back out lease car and not replacing it. I am a bit concerned about all of the credit checks being carried out on us (first by accord and now by clydesdale). My broker said it shouldn't have any effect but thats not what I've been reading online? Obviously being turned down once worries us more that we will get turned down again and then what? Any advice much appreciated.
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