HELP IM CONFUSED??

Suzuka96

Yes you can contact hmrc today but there will be late filing penalties

M1981

MovingForwards said:

M1981 said:

It was Newcastle building society

Looks like you may have failed on residency:
https://www.newcastle.co.uk/mortgages/lending-policy/#

I have just called NC building society again, they won’t give up much information, but they said that I wasn’t declined due to a criteria issue. It was because of me being outside of there “risk appetite”.

 I have no idea what this means and just need to understand so I can try to work on improving it somehow.

[Deleted User]

I saw your earlier post re: risk appetite, and was going to say, generally that's used when information just isn't adding up - Underwriters will only spend so long getting to the bottom of something, before giving up and saying that it's outside of risk appetite (as you have to prove you're a good risk, not them prove by piecing together strands of info you aren't a bad risk).

The client may well be squeaky clean - but, there have been inconsistencies in information. Either they've said something which is contradicted by the paperwork, or they just can't support whatever they've said.

Therefore the lender haven't been able to satisfy themselves that you're a low/reasonable risk - and you've been declined as high risk / outside of risk appetite.

Having now seen this thread, I don't think late filling is going to help you with this lender - they've queried your income and (even if it's an honest mistake), you've got to admit it looks a bit of a mess/"dodgy" - they won't want to be associated with it (even if you subsequently file and sort out any HMRC issues).

Another lender may be more forgiving, but if Newcastle have declined you for risk appeite, against this backdrop, I can't see it being overturned. Do you have a broker??

M1981

Somerset_La_La_La said:

I saw your earlier post re: risk appetite, and was going to say, generally that's used when information just isn't adding up - Underwriters will only spend so long getting to the bottom of something, before giving up and saying that it's outside of risk appetite (as you have to prove you're a good risk, not them prove by piecing together strands of info you aren't a bad risk).

The client may well be squeaky clean - but, there have been inconsistencies in information. Either they've said something which is contradicted by the paperwork, or they just can't support whatever they've said.

Therefore the lender haven't been able to satisfy themselves that you're a low/reasonable risk - and you've been declined as high risk / outside of risk appetite.

Having now seen this thread, I don't think late filling is going to help you with this lender - they've queried your income and (even if it's an honest mistake), you've got to admit it looks a bit of a mess/"dodgy" - they won't want to be associated with it (even if you subsequently file and sort out any HMRC issues).

Another lender may be more forgiving, but if Newcastle have declined you for risk appeite, against this backdrop, I can't see it being overturned. Do you have a broker??

Thank you for this information, I do not have a broker at present, however I will really need another one very soon.