Natwest Declined full mortgage application

RelievedSheff

LouiseWil wrote: »

Today we have been rejected by Kensington! Any other options? Please help? It failed on bank statements. Mortgage Advisor said there is no other options.

There must be something pretty serious on the bank statements or your credit files for Kensington to have declined your application!

My credit file isn't great at the moment with a couple of CCJ's but we still managed to get a mortgage with Kensington a few months ago and we don't have loads of money left in the bank at the end of each month which was evidenced on the bank statements.

Renegadecrab

RelievedSheff wrote: »

There must be something pretty serious on the bank statements or your credit files for Kensington to have declined your application!

My credit file isn't great at the moment with a couple of CCJ's but we still managed to get a mortgage with Kensington a few months ago and we don't have loads of money left in the bank at the end of each month which was evidenced on the bank statements.

Could I ask how recent these CCJ's were and whether they are satisfied? I have one from a bloody parking find I didn't know about as I had moved house, its too late to remove now. Previously had one from another former address that I need to settle, I am not very good ad mail forwarding and never used to keep on top of my mail. Paid the price for it but keen to buy in the next 18 months.

RelievedSheff

Renegadecrab wrote: »

Could I ask how recent these CCJ's were and whether they are satisfied? I have one from a bloody parking find I didn't know about as I had moved house, its too late to remove now. Previously had one from another former address that I need to settle, I am not very good ad mail forwarding and never used to keep on top of my mail. Paid the price for it but keen to buy in the next 18 months.

One unsatisfied CCJ that will drop off my credit file this October and a satisfied one from 2015.

sal_III

LouiseWil wrote: »

As above! Couple of missed payments and putting large amounts of money in his mums account! Which was actually his savings for the mortgage.

Why was he putting money in his mum account instead of his own savings account? Months before applying for mortgage of all things.

Learn your lessons and clean up your "act", then re-apply in couple of months, instead of committing to 5% mortgage now, just to "power through".

LouiseWil

Hi all,

Thanks for all the messages, some helpful some not so helpful! We had already found a property so to proceed with this sale, the broker suggested Barclays Joint Borrower Sole Proprietor. My dad has come on board as alone my salary will not stretch to the house value. He is basically a silent partner. Otherwise we would have had to wait 3 months before applying anywhere else due to the bank statements, i rang a few lenders and they all said they couldn’t be any missed payments within 3 months meaning we would lose out on current sale. Just thought I would make others aware that don’t know this is an option. We’ve got a great interest rate and after the 2 years we can get my partner on board.

We wasn’t expecting to proceed with a mortgage so quickly and did not realise it was going to be so difficult. The CCJ and his credit score we’re not the reasons which I thought may be, it was the bank statements that have to be right which makes sense but knowing there was nothing to worry about with my finances I thought all would be ok.