Mortgage declined - onto the next one!

LittleMac13

Just after a little bit of advice. We originally applied to NatWest and had our DIP, unfortunately they declined yesterday due to "person characteristic" and the fact a notice of correction (which related to my name being spelled wrong on the electoral roll, not credit).

Was disappointed but I think hey ho, it wasn't meant to be with them.

My MB has since done a soft search with Accord which has passed, and she has called her contact there to say we've been declined by Natwest based on whatever reason, and would it be the same if we apply through them. They said no.

So, the application has gone in yesterday. Has anybody dealt with Accord before? I've never heard of them, other than my coworker got her mortgage last year with them.

We need £187k, have combined salary of £55k. I have debts which I've agreed to pay once I have the equity off my current house.

Fingers crossed this one goes through okay, just wanted to ask for peoples experience with this lender.

Thank you

ACG

I used to avoid Accord like the plague - 3-4 years we spent finding any reason to not have to use them as the previous 3 applications we sent them were beyond a joke and nearly resulted in 2 applicants losing a property.

I used them more recently after hearing good things about them for the last 12 months. I was nervous but told the client out experience of them but how they appear to have improved recently. It was the easiest case I have ever had. I am a massive fan of Natwest, but Accord made it look even easier.

Your broker sounds like a good one. A case has been declined because of the underwriters discretion, that is not the brokers fault. However, they have gone the extra mile this time to explain everything upfront and to hopefully avoid any problems. That is the way we would work.

When you have a declined application, I know it means you are going to be a little on edge, but it sounds like you are in good hands.

LittleMac13

Thanks for the quick reply ACG - I had a read a couple of posts on the board and seen one of your older ones saying you always avoid them and had a bit of a panic, hah!

Glad to hear they seem to have improved over the past year, we've got everything crossed this one goes through - my MB did say that they do just ring and query things if they need to, as opposed to emailing and waiting around for a reply which should reduce the wait!

She's fantastic, she had already informed NatWest of the NoC but they clearly hadn't listened or noted it, she was well aware of it and also told Santander when I remortgaged last year and didn't have an issue at all. Or, maybe it wasn't the NoC at all and they just didn't fancy us to be on their books. Who knows!

We'll just keep our fingers crossed, just hope we don't have to be waiting too long

ACG

NoC are a pain in the ..... They cause more harm than good.
I used to work for RBS/Natwest and our systems would throw it out for manual review. It did not usually alter the outcome, it just delayed it.

Angelschild

LittleMac13 wrote: »

Just after a little bit of advice. We originally applied to NatWest and had our DIP, unfortunately they declined yesterday due to "person characteristic" and the fact a notice of correction (which related to my name being spelled wrong on the electoral roll, not credit).

Was disappointed but I think hey ho, it wasn't meant to be with them.

My MB has since done a soft search with Accord which has passed, and she has called her contact there to say we've been declined by Natwest based on whatever reason, and would it be the same if we apply through them. They said no.

So, the application has gone in yesterday. Has anybody dealt with Accord before? I've never heard of them, other than my coworker got her mortgage last year with them.

We need £187k, have combined salary of £55k. I have debts which I've agreed to pay once I have the equity off my current house.

Fingers crossed this one goes through okay, just wanted to ask for peoples experience with this lender.

Thank you

Just had my mortgage offer from Accord (well assuming it's on the doormat waiting for me!!) Applied via a broker, it was either them or Santander and they had a better rate at the point of applying.


The process has taken about 10 working days, I'm a single applicant, with an 'average' salary. I have a maxed out credit card of £4k and currently my incomings and outgoings are the same, so no room for saving/contingency etc.


They had 3 months bank statements, with the most recent being December, 3 pay slips, didn't even want my most current one of February and ID, that was it. Really pleased with how it has all gone!!

LittleMac13

Angelschild wrote: »

Just had my mortgage offer from Accord (well assuming it's on the doormat waiting for me!!) Applied via a broker, it was either them or Santander and they had a better rate at the point of applying.


The process has taken about 10 working days, I'm a single applicant, with an 'average' salary. I have a maxed out credit card of £4k and currently my incomings and outgoings are the same, so no room for saving/contingency etc.


They had 3 months bank statements, with the most recent being December, 3 pay slips, didn't even want my most current one of February and ID, that was it. Really pleased with how it has all gone!!

That's fantastic news! Congratulations on the offer! Our MB has payslips and statements for Dec, Jan and Feb for both of us and our ID. Hopefully this is enough

I was in a similar situation when I remortgaged with Santander the other year, they were fantastic I must say.

My partner has no debt at all, and I do have quite a bit but my 4k loan will be paid off and I'll still have equity left to pay a few credit cards off.

Currently got everything crossed!

ACG I can imagine it being a nightmare! Oh well, I'll just keep my fingers crossed Honestly this forum is great, really stopped me panicking as I'm normally a little nightmare myself, hah!