AIP decline butnot sure why?

Claireaturner

Okay where to start, so I paid off my debts in 2015, long story and out of my control as to why I was in debt, anyway. My partner and I have recently had an AIP for a shared ownership property last month to see if it was fine with my credit score and we were accepted. We have since seen a property (again shared ownership) that we have put in an offer so another AIP has been done but this time the underwriters have declined it and said there is an outstanding judgement against me of £300 . Nothing has changed in a month and I have no outstanding balances at all according to Experian. I have not taken any credit out in 5 years. It’s so frustrating and annoying as to where this has come from. I don’t understand why this could have happened and what has gone wrong. If anyone could shed some light on this at all that would be great. Many thanks Claire

ACG

You have answered your own question...

the underwriters have declined it and said there is an outstanding judgement against me of £300

If you tried a different lender, they may have checked different credit agencies. If you tried the same lender, criteria could have changed or they may have just picked up on something they missed previously.

In any event an AIP is not really worth much and you will not have much recourse. So you need to find a new lender if the original lender will not accept you.

Claireaturner

Thanks I am new at this, my mortgage advisor has gone through the same lender. I know she said we are more limited wIth shared ownership and they are harder to get. So does mean that there could still be hope for us yet. I have kinda fallen in love with the house it is perfect but trying not to get my hopes up.

minimike2

You need to get copies of all three agency credit files so you can establish what it is.

ACG

One lender saying no, does not mean they all will.

I do not do shared ownership mortgages personally, so I am not sure what what options are out there but it is probably not the end of the line.