Mortgage declined - no reason

ctbuhy

Hi,

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Thx

Bermonia

It’s not looking good... there is clearly something that has flagged which does not bode well for you, but of a catch 22 as they are unlikely to tell you what the issue is - check your credit file with the usual credit agencies see if anything untoward and possible consider contacting Cifas.

May well be someone on here can offer up better guidance.

Exodi

Good Morning Ctbuhy,

Firstly, you should never immediately apply or another mortgage after being declined until you resolve (or are aware) of the reason for the decline.

Being declined by their fraud department indicates you have an existing CIFAS marker. Fortunately under Data Protection, you are able to submit a DSAR request to CIFAS for details of the information they hold (see: https://www.cifas.org.uk/contact-us/subject-access-request) - you should not submit another application until you have a checked this data. I'd also advise checking your credit reports (Experian, Equifax and Callcredit - all can be done for free through MSE Credit Club, Noodle & Clearscore) for any adverse information.

Secondly, I may be wrong in my assumption, you sound at least somewhat aware you may have a CIFAS marker? After doing the above, if you do indeed have a marker, you should contact a broker to see what you're options are.

Lastly, you ask whether this will effect your partners remortgage? Could you elaborate on your circumstances? Are you buying a separate house to her then? Do you have any joint accounts (thus your credit files would be linked?)

ctbuhy

Hi,

Thanks for your advice.

Exodi

Hi Ctbuhy,

Thanks for the additional information. Unless you've committed mortgage fraud (eg by deliberately lying on your mortgage application) then the lender would have no reason to submit to CIFAS - they would however, as standard procedure, check the CIFAS database and having a joint account means this will likely show on your personal credit file.

Wait for the CIFAS & Credit Reports to come back and have a thorough look through them, it seems nonsensical to keep applying for mortgages (especially as it seems a certainty you're both marked).

If this is the case, get your broker to find a lender that is OK with CIFAS markers (expect high interest rates) or wait for them to fall off.

I'd also have a conversation with your partner, if he thinks this was applied in error (though they rarely are) then he should appeal whoever applied it.

Thrugelmir

You can approach National Hunter direct.

https://www.nhunter.co.uk/

If there's been inconsistancies between applications made by you or your partner for financial products then this will be flagged up to potential lenders.

ctbuhy

I've requested the application form from Tesco directly. Hope I can f

Thrugelmir

ctbuhy wrote: »

My partner got 3 BLT and one residential. He lives in one of his BLTs with tenants, and I live in the residential one. I'm planning to move into the new property.

Suspect that your answer is somewhere within here. The fact that your partner is living in one of the BTL's rather than his residential home. Which you are occupying. May have raised a number of issues from an underwriters perspective. There's a connection between you that disassociating bank accounts may not have resolved.

Lenders have no need to spend their time talking. Plenty of straightforward business out there.

ctbuhy

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Thrugelmir

ctbuhy wrote: »

The underwriter had even arranged the valuation which means they have no issue with my application.

Underwriting as a task is performed by teams. At a given level there'll be underwriters with the authority to make final judgements on the lenders behalf. As to whether the application should be allowed to proceed or terminated.

ctbuhy

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