Mortgage Declined, now broker claims he has nothing.

mcpitman

enthusiasticsaver wrote: »

A decline will show as adverse credit so this will be why no other lenders will touch you after the Nat West rejection.

What a load of twaddle. A decline does not equal adverse credit, other lenders do not see the outcome of applications (decline or approve etc), just if an application has occurred, and only that if it was a full search.

alonzo-ny

nicholbb wrote: »

Do you have any credit card debts, even on 0% deals? A few years ago I had a Santander 0% card, paid it off just before my mortgage application, but then Santander failed me on affordability - they invited me to go to a in depth review but went to another bank instead.


From what I can work out take your credit card debt multiply by 5, remove this from your affordability.

Nothing, we use credit cards for daily purchases but this is cleared every month.

alonzo-ny

tacpot12 wrote: »

What rates/deals were you offered by Halifax and what is their SVR?

2 yr at 2.29% and 5 yr at 2.84. The standard is 4.3% or thereabouts.

Samsung_Note2

alonzo-ny wrote: »

2 yr at 2.29% and 5 yr at 2.84. The standard is 4.3% or thereabouts.

Ive just remortgaged 5yrs fixed at 1.96% with Halifax...moved across from Nram.

Oh and thats with a not very great credit file (couple of satisfied CCJ"s and historic pay day loans.)

alonzo-ny

Samsung_Note2 wrote: »

Ive just remortgaged 5yrs fixed at 1.96% with Halifax...moved across from Nram.

Oh and thats with a not very great credit file (couple of satisfied CCJ"s and historic pay day loans.)

Typical new customers getting better deals than existing customers! Compared to the 1.99% we were offered we'd be down 10k over 5 years with the crap Halifax rate.

Samsung_Note2

alonzo-ny wrote: »

Typical new customers getting better deals than existing customers! Compared to the 1.99% we were offered we'd be down 10k over 5 years with the crap Halifax rate.

No idea if it makes a difference but it was through a broker..Nationwide was ever so slightly cheaper,but was told Halifax are not so fussed about less than great credit history.

alonzo-ny

Samsung_Note2 wrote: »

No idea if it makes a difference but it was through a broker..Nationwide was ever so slightly cheaper,but was told Halifax are not so fussed about less than great credit history.

I see. I would have typically gone straight to a lender because our LTV ratio isn't very large and the payments are extremely affordable for us. However this rejection has really surprised me. I've also lost some faith in brokers.

How does one find a 'local' broker? I am not sure I want to use one but it could be an option.

HampshireH

How does one find a 'local' broker? I am not sure I want to use one but it could be an option.

Pop it into a search engine along with your location. Or take a trip to the local highstreet.

There are many around. Most search engine have a review section on them so you can see how they perform. You can also then ring around

kingstreet

alonzo-ny wrote: »

Our broker (Trussle) just told us we were declined a (re)mortgage from Natwest with no reason given. Now Trussle claim there are no mortgages available to us?

This is clearly a nonsense considering we had a full range to pick from previously. It seems to me Trussle are suddenly deciding not to work with us.

As a background we could easily afford the payments and are both in great credit shape (we checked on the credit club).

Do I have any right to the reasoning behind our declined application or the bizarre response from Trussle? Our fixed rate period ends in two weeks and this nonsense will cost us!

Obtain a copy of your Equifax credit file before you do anything else. This will show you what NatWest can see.

Have you, or your partner ever had any issues on any NatWest or RBS account? They have internal markers and can show up years later, long after stuff has fallen off your credit file.

alonzo-ny

kingstreet wrote: »

Obtain a copy of your Equifax credit file before you do anything else. This will show you what NatWest can see.

Have you, or your partner ever had any issues on any NatWest or RBS account? They have internal markers and can show up years later, long after stuff has fallen off your credit file.

Is the free Equifax report any different from Experian or what I see on the MSE Credit Club?

As far as I know my partner has never had any accounts with either. I've used RBS for banking for many years but now only a credit card which is paid every month. And a Natwest account i opened only to get the switching bonus.