Mortgage rejected.......?

Jaylu123

Hi folks, 

Just a quick one in relation to a remortgaging application rejection. I was moving from Halifax to Danske, LTV is very favourable as is my affordability - they will lend me up to the region of 200k however my outstanding balance is only 87k at present. No issues there. The issue they have is account conduct - I missed a loan repayment (not through lack of funds) I simply had forgot, admittedly my fault, to transfer money from my everyday account to another account I iuse for my bills. I quickly rectified this and the money was transferred within the day and payment requested again a week later, which of course was paid. Danske are aware of my savings and know that this was a mistake and not lack of funds, however still are declining my application.

Do I have any grounds to appeal this?

I should also add that my experian credit score is 999 and never missed a mortgage payment. 

[Deleted User]

You can appeal it, but I would keep your expectations modest.  It seems they're no happy with the missed payment, no matter how it came about.

Your 999 score is of no use when it comes to lending decisions, unfortunately.  They'll only be interested in your account conduct.

sal_III

It sounds like a "computer says NO" type of situation. Depending on their appeal process you might or might not have a success it's anybody's guess.
Why are you so hung on using them and not looking elsewhere if you have clean credit file and can easily meet the affordability criteria?

Jaylu123

It's not that I'm hung up on using them, they have only called me this morning and I was just wondering can they be swayed to see common sense? If their decision is upheld I'll certainly be looking elsewhere. 

Thrugelmir

Perhaps you've failed on some other internal criteria as well. With smaller lenders they've most likely a more specific target market of borrower in mind. 

Did you apply direct to them? 

Jaylu123

Yep, direct application, the lady in Danske assures me that the only reason is this payment........ She even stated if I wait until I am three months bank statements clear of it to reapply! Seems like madness to me but I'm at the mercy of the lender so I'll just wait and see if they will accept my justification and if not, apply elsewhere! Cheers all for replying.