Mortgage Pulled after Formal Offer

Stuffedhead

Hi all

Hopefully someone can give me some advice. I have had a formal mortgage offer from Santander pulled today. The offer has been in place since the 3rd. We were about to hopefully complete on a house on Tuesday next week.

My broker has called them. They stated that it was from a Head office audit. My Partner and I have made no credit applications in several months and no changes have been made credit wise.

They did advice it was due to a debt at a anouther address . We have been at our addresses now for more than 6 years and don't have anything that show on any credit file as such

I do not know what to do.
My MB has asked for an appeal .

[Deleted User]

Have you exchanged?

Stuffedhead

We are in Scotland I assume you mean sign the missives. No not yet

Stuffedhead

I have scowerd over my credit file and can't find anything. This is so stressful

asm89

Sorry this has happened.

Have you looked at all your credit files?

Stuffedhead

I can't see anything that would cause an issue

foxy-stoat

What has your broker said and done since, looked for another lenders?

missile

I would make a written complaint to Santander and find another mortgage provider.

Retired_Mortgage_Adviser

What does your broker suggest? They should be guiding you at this point.

Even if an old debt (default date more than 6 years ago) does not appear on your credit report, lenders can decline apps/pull offers based on the data they hold on you of historic credit accounts that you held with them, for instance a Santander credit card that you defaulted on as a student 6+ years ago, etc.

From experience, it isn't the same with all lenders (HBOS are quite lenient) and depends on the particulars, but from experience with my clients, it does happen ocassionally.

Can you/partner think of any old dealings with Santander/Abbey that might have gone sour, however long ago this was? More importantly, did your broker ask you this question, at least after the offer was pulled? (Hint: If not, he/she needs to do better than blindly suggest an appeal)

If this is the case, you are probably out of luck with Santander but it shouldn't be a deal breaker as your broker should be able to place you with another lender without too much trouble. They won't take this into account.

BoGoF

I think OP may have reposted under a different (but similar) user name.

https://forums.moneysavingexpert.com/discussion/6081999/santander-formal-offer-withdrawn-2-weeks-after-issued

BelowTheLine

Any previous credit issues (however old they might be) with Santander/Abbey/Cahoot?

Stuffedhead wrote: »

They did advice it was due to a debt at a anouther address . We have been at our addresses now for more than 6 years and don't have anything that show on any credit file as such