Refused Mortgage even though credit history is good

Cucullan

Our combined annual income is 90% of sum to be borrowed, no loans, one credit card - balance cleared every month, no dependents, both in full time employment.

Pixie5740

Cucullan wrote: »

Our combined annual income is 90% of sum to be borrowed, no loans, one credit card - balance cleared every month, no dependents, both in full time employment.

You say that you have had bad credit in the past but nothing that should be visible now. Have you checked all 3 credit files (that's 3 each) to look at your credit history, not scores but history to ensure that nothing is visible?

What kind of bad credit did you have in the past? Anything that lead to insolvency? Are the lenders you are applying to now part of the same banking group(s) that were caught up in your bad credit?

Thrugelmir

Cucullan wrote: »

Our combined annual income is 90% of sum to be borrowed, no loans, one credit card - balance cleared every month, no dependents, both in full time employment.

Who is your mortgage with. Is it interest only?

peter12345678910

Too many hard searches will go against you no matter how good the equity is.

getmore4less

..My wife and I have been trying for 10 years to get a better rate mortgage...

Cucullan wrote: »

This is the most likely reason, as yes, we have had bad credit in the past but nothing that should be visible, however, one individual made a few calls and suggested it was an underwriter that was linked to multiple providers that were causing this issue. I bank with Natwest and our mortgage is with Santander. Affordability is not an issue as the value of the house is well over double that of the mortgage and we are both in full time employment. Our credit reports are clean.

Are they not even letting you have retention deals?


what rate are you on?

Thrugelmir

getmore4less wrote: »

Are they not even letting you have retention deals?

I'm wondering if the mortgage was originally taken out with Abbey National or Alliance & Leicester. These closed mortgage books remain outside Santanders own.