Mortgage in principle declined

rachael88

Hi,
I have been declined for a mortgage in principle from santander, i currently have a mortgage with them on a 50% equity property but would like to buy a bigger property.
My mum is selling one of her houses around September which would be perfect for me, I checked their affordability calculator and it has said I can afford 30,000 over what I need, I have a 20% deposit and my credit score is showing as 998 out of 999, I have no defaults, late payments etc in the last 6 years.
The only thing I can think of is that I am married but we have been separated for the last 2 and a half years (living separately but not legally) could this be the reason I have been declined?
If so does any one know what I can do about it?

Thanks,
Rachael

ACG

Have you asked Santander?
If your husband has bad credit, you could be declined due to any financial association.

But you need to speak to Santander in the first instance.

rachael88

Thanks,
I'll call them and ask, I didn't think they would be able to give me details as to why it was declined.
Do you have any suggestions as to what I can do if this is the case?

ACG

It will be a case of finding a new lender.
But before doing anymore credit checks you could do with finding out more about what the issue is. Too many credit checks could cause more problems.

enthusiasticsaver

Have you looked on Noddle to see if there is anything adverse on there you don't know about or linked accounts with your ex? I don't think it will be anything to do with your separation.

rachael88

I haven't looked on noodle but we did have a joint account that was recently closed (around 6 weeks ago). It had all the old bills set up from it and we've always stayed on good terms so we just kept it and carried on each paying our own bills.
I'm going to phone Santander tomorrow when I have more time and hopefully I can resolve any issues.

BoGoF

So have you actually looked at any of your credit files to see what they show?

That should be your first step. Santander will not tell you much as to why you have been declined.

rachael88

I have looked at Equifax as I pay the monthly fee and am not associated with my husband on there, also nothing negative on my credit file. I checked Experian as the message declining my offer in principle suggested it and my score was excellent but didn't pay the extra to see the full report.
If Santander can't give me any details i'm guessing a mortgage broker would be my next option.
Thanks.

[Deleted User]

rachael88 wrote: »

I have looked at Equifax as I pay the monthly fee and am not associated with my husband on there, also nothing negative on my credit file. I checked Experian as the message declining my offer in principle suggested it and my score was excellent but didn't pay the extra to see the full report.
If Santander can't give me any details i'm guessing a mortgage broker would be my next option.
Thanks.

Don't pay a fee to view your reports.

Check all three for free via Clearscore, Noddle and MSE Credit Club.

And don't take any notice of your scores - they're made up and not of any use to anyone. You need to be looking at the data.

rachael88

I have checked with Experian through clear score and my husband is listed under financial associations, if I contact them and explain the situation is it likely that they will take him off? After speaking to him he has a CCJ that was registered 3 years ago so would still show, if they wont remove him do you think I should apply to a company that specialises in bad credit mortgages or is a high street lender likely to take my word and evidence (living separately for a while) that we are separated over the credit agency?

Thanks.

Jessd1982

We had problems with Santander who wouldn!!!8217;t give us a new mortgage ( are mortgage atm is with them ) and we have a good sum of equity in the house we had debts which we paid off with family giving us money but Tesco cc defaulted me and put me on a payment plan and every month I was in default I never knew this until we went throu the credit report we did Experian with a month free It!!!8217;s only now I!!!8217;m default free but I!!!8217;m stuck with it for 6 yrs everything else we owned wasn!!!8217;t defaulted so we just paid it off
So we went with a mortgage broker who found us a mortgage with a sub lender not a high street one we just have the valuation survey Monday and then are broker said we!!!8217;re all set to go it!!!8217;s been a long slog they have asked for so much info but are broker is fab and has answered all of here questions etc we do have a 60k deposit on a 217k house so all should be good
I deffo recommend a broker they have access to stuff we wouldn!!!8217;t be able yes we are paying him but it!!!8217;s worth it and then once my default is gone we!!!8217;re try n get a high street lender