Mortgage Declined, now broker claims he has nothing.

kingstreet

MSE credit club and Experian are one and the same.

NatWest uses Equifax and the data can differ across all three of your credit files as different providers feed data to and take data from different ones.

Thrugelmir

alonzo-ny wrote: »

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.

LTV ratio isn't particularly important. Lenders are far more concerned with repayment of the debt without any hassle. Than having security in the form of equity. Repossession is an expensive and time consuming undertaking . Mortgage lending is a very low margin business.

ytfcmad

mcpitman wrote: »

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.

Its rather dangerous when "Board Guides" are pedalling outright rubbish!!!

Too many people on here who think they know it all posting dangerous advice etc.

[Deleted User]

ytfcmad wrote: »

Its rather dangerous when "Board Guides" are pedalling outright rubbish!!!

Too many people on here who think they know it all posting dangerous advice etc.

Possibly, however, there are far too many people posting queries and questions, on the boards, without doing their own due diligence.
As with every single thing in life due diligence is crucial.
Omitting it is a dangerous thing.

MortgageMamma

Have you checked if your mortgage broker works from a panel of lenders representative of the whole of market, or whether they are truly who of market?

Your broker could be inexperienced or working from a restricted panel. There may be another lender who can help you.

Find another broker

amnblog

A simple remortgage from Halifax to Nat West declined by Nat West and ‘no other options’.

Sounds like the case is no longer considered as profitable by the Broker and they want rid of our poster.

Most of us would identify what the issue is and place the case elsewhere if beneficial or help Client select options with Halifax if not.

Carrot007

alonzo-ny wrote: »

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

Well it's a different compnay so likely to be different but also could be the same. Best to check all.


The important thing it what you are looking at on the MSECC report. I for instance have a score of 999, this means nothing. What you need to look at is the ACTUAL REPORT and the affordability info (yes I know there is no mortgage one yes but the loan and card ones give a good indication (and the actual report even better if you look at the bad points).


Remember it is absolutely possible to have a 999 score on MSECC and be in a position where no one would give you any credit.

Carrot007

Also a good broker would have asked you for you credit reports first and seen any potential issues. Did this not occur?

YHM

Sounds like you need to find a different broker. As above, it may be the fact that your application doesn't fit the robo-advice model that Trussle employ.

alonzo-ny

I appreciate the advice from all. I have gone to an independent broker and am starting the process again.

I suspect our mortgage is no longer worth it for Natwest probably. And Trussle are a lazy outfit.

I would love to formally complain about Trussle but not sure it is worth the energy. The guidelines on the FCA website state clear communication which I don't think I have received!!!