Mortgage rejected 2 days before closing

Milky616

Hi everyone, I'm new here but was hoping for some advice.

We live in Scotland, in the process of selling a flat and buying a house. Missives have concluded on both, move in date is Thursday, but solicitor just called us to say the mortgage lender has no record of the mortgage application, when we call them they say it has been rejected but won't tell us why, she won't even give us coherent sentences (heading to her now to speak in person). We have the paperwork and had been given the green light almost 2 months ago. We have 30% deposit, no debts and great credit scores, nothing has changed in the last couple of months. I don't understand any of this and panicking a little.

Has anyone here had a similar experience or any clue what's going on?

davidmcn

What do you mean by "we have the paperwork"? Do you mean you had a mortgage offer but they've withdrawn it? Or you were still waiting for the mortgage offer?

[Deleted User]

You need to speak to your solicitor. It could be anything - a final audit, poor undeclared credit histories, something new on your reports that have spooked them, CIFAS markers, etc.

Milky616

We had the mortgage offer, they sent us paperwork to confirm said mortgage offer after they had confirmed all was fine.

We have no bad credit histories and nothing to declare to them and I said nothing had changed at all. We don't have kids, we don't have a car, we're not paying anything else off. As far as we know no one has defrauded us and we certainly haven't done that to others.

I just don't know what we're suppose to do now.

foxy-stoat

Deleted_User wrote: »

You need to speak to your solicitor. It could be anything - a final audit, poor undeclared credit histories, something new on your reports that have spooked them, CIFAS markers, etc.

Agreed - people do crazy things before completing on a mortgage

[Deleted User]

Milky616 wrote: »

We have no bad credit histories and nothing to declare to them and I said nothing had changed at all.

You said nothing had changed but you didn't say whether your credit files told the same story.

You only mentioned the pretend credit scores so I wasn't sure whether you had properly reviewed your reports to see if anything had popped up unexpectedly.

Milky616

The only debt we've had is the current mortgage on the flat were selling and we've never missed or been late with any payments. New mortgage is with the same bank too.

davidmcn

Your solicitor can advise further, but if you've concluded missives then you're contractually required to pay the price on the date of entry. Costs start to be applied if you fail to do so (and also under your sale contract if you fail to give your buyers vacant possession).

Milky616

In case anyone cares, it turns out someone at the bank just plain old didn't do what they're suppose to, then refused to meet with us to talk about it (went on a break as soon as she knew we were coming). Someone else has restarted everything but since we're only 2 days from closing we have no idea if they'll get it done on time. Stupid lazy woman.

Thrugelmir

Which suggests that you haven't received a formal mortgage offer yet.

minimike2

I assume your solicitor knew you were buying with a mortgage?

You say you had a mortgage offer, but mortgage offers don't just vanish into thin air, so something isn't right in what you are saying. There is much more to this story.

I can't understand how a solicitor could let it get to this stage without having the mortgage offer?