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Mortgage Declined :(

MrsWW
MrsWW Posts: 27 Forumite
in Mortgages & endowments
Hi all,

I have just found out that my mortgage application with Nationwide has been declined due to credit score and I'm devastated.

My husband doesn't have a credit score as he's never had credit and mine is sitting at good. We can easily afford the property.

My broker is yet to notify me - I found out by calling them myself - is there anywhere I can go from here? I really don;t want to lose this property.

Thanks.
Original Mortgage: £276,899
Nov - Regular over-payment of £210 set up
November 11th balance: £272,380
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Comments

  • kingstreet
    kingstreet Posts: 39,335 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    How did it pass at agreement in principle?

    Nationwide does a hard search at that stage, so there would be no change between AIP and full app submission.
    I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.
  • Pixie5740
    Pixie5740 Posts: 14,515 Forumite
    10,000 Posts Eighth Anniversary Name Dropper Photogenic
    Who says your credit score is good? What's actually on your credit files?
  • haras_nosirrah
    haras_nosirrah Posts: 2,208 Forumite
    why did you contact them yourself rather than waiting for the broker
    Your broker may be trying to sort something out behind the scenes for you before notifying you.
    I am a Mortgage Adviser
    You 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.
  • stripeyfox
    stripeyfox Posts: 474 Forumite
    MrsWW wrote: »
    Hi all,

    I have just found out that my mortgage application with Nationwide has been declined due to credit score and I'm devastated.

    My husband doesn't have a credit score as he's never had credit and mine is sitting at good. We can easily afford the property.

    My broker is yet to notify me - I found out by calling them myself - is there anywhere I can go from here? I really don;t want to lose this property.

    Thanks.

    You probably need to wait for more information. All may not be lost. Plenty of people will tell you your credit score is not relevant. The lender will have made their decision based on the information you provided, and your borrowing history, and their affordability criteria.

    It is a really stressful time, but you probably need to speak to your broker in the first instance.
  • MrsWW
    MrsWW Posts: 27 Forumite
    My broker apparently spelled my name incorrectly and had to submit a second application to fix this - I'm assuming this is the only way this happened.
    Original Mortgage: £276,899
    Nov - Regular over-payment of £210 set up
    November 11th balance: £272,380
  • MrsWW
    MrsWW Posts: 27 Forumite
    I've been emailing my broker (and calling) for an update since Friday and he has not responded even though his assistant has confirmed he is in the office.
    Original Mortgage: £276,899
    Nov - Regular over-payment of £210 set up
    November 11th balance: £272,380
  • MrsWW
    MrsWW Posts: 27 Forumite
    Experian. The only negatives I have against me are one late payment 6 months ago for a catalogue and I'm not on the electoral roll - this is due to my not having any where to live at the moment and being between addresses!
    Original Mortgage: £276,899
    Nov - Regular over-payment of £210 set up
    November 11th balance: £272,380
  • haras_nosirrah
    haras_nosirrah Posts: 2,208 Forumite
    your broker would have had to resubmit the application
    It is possible the original application has been cancelled down which would show as a decline and a new application is in with the correct spelling
    I am a Mortgage Adviser
    You 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.
  • MrsWW
    MrsWW Posts: 27 Forumite
    Thanks, but this is the new application that has been declined!
    Original Mortgage: £276,899
    Nov - Regular over-payment of £210 set up
    November 11th balance: £272,380
  • CentiaRoyal
    CentiaRoyal Posts: 22 Forumite
    "I'm not on the electoral roll" - this could be the reason? Also could explain passing the AIP but declined in the mortgage? I am no expert but I thought being on the electoral roll is very important and can make or break an application sometimes.
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