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Virgin Money Mortgage Rejection

ctlfc
Posts: 21 Forumite
Hello
I will be switching mortgage deals, and probably provider, in December and have been looking around for some potential rates.
I noticed some long fixes (10 years) at 90% LTV on Virgin Money and performed an eligibility check which included a soft search.
Both my wife and I have no issues on our credit file, all accounts are up to date and things are in good order but the decision said rejected based on something that came up during the soft search.
Any ideas on what the issue could be and whether this is likely to be similar with other companies?
Thanks
I will be switching mortgage deals, and probably provider, in December and have been looking around for some potential rates.
I noticed some long fixes (10 years) at 90% LTV on Virgin Money and performed an eligibility check which included a soft search.
Both my wife and I have no issues on our credit file, all accounts are up to date and things are in good order but the decision said rejected based on something that came up during the soft search.
Any ideas on what the issue could be and whether this is likely to be similar with other companies?
Thanks
0
Comments
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Get copies of your credit files from
The three agencies.0 -
Hello
We are both on top of each reporting agency and have never had problems with gaining credit in the past. We got a joint mortgage two years ago and have had a small amount of credit applications since (PCP, Credit/stor cards etc)
Was just wondering if anyone had any ideas about whether this could be unique to a certain lender or is likely to be a problem that occurs across the board when applying for a remortgage in December.
Thanks again.0 -
It may just be that you do not meet their internal scoring, which can be a combination of your credit reports and overall profile.
Virgin Money tend to be quite a harsh lender in certain circumstances (although I find fairly lenient in others).
Give them a call, discuss your application with them if you have not already. There could be a million and one reasons which we could list, but it will not help you and your specific circumstances.
The good news is that as you did not make a full application, you do not need to declare this as a declined application on any future applications.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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