Anyone know what this AIP outcome means?

pearsforlife

Hi,

We are looking to remortgage direct with Barclays, we spoke to them on the phone as we had some adverse over 3 years old and they said we could proceed to use the AIP system online so a few days later we did, however this was the response we got;

” We’ll need a bit more information before we can confirm the amount and term you can borrow over. Please book a mortgage appointment to discuss this in more detail with us”

We have booked a phone appointment but I really feel like we are going to be let down... anyone shed any light? The guy who booked the appointment said there was a code for ‘early delinquency’ although we don’t have anything other than historic defaults? Nothing recent? 

Thanks

pearsforlife

PS. Went direct because one of us has banked with them since very young. 

firstimebuyer1993

Don't quote me on this but I think they run an automated soft credit check which runs through their affordability checks. If you don't tick all of their automatic boxes, they need more info to know exactly how much they will be able to lend you (but that may mean that you will know with more certainty after the appointment exactly how much they will lend you)

pearsforlife

I see, we did fit affordability no probs when the guy booked the appointment as they wouldn’t book it without going through the motions. I’m just worried it means just submit everything and then the underwriter will probably say no.

MovingForwards

If you are worrying and have some adverse credit history, why are you not using a broker as it will reduce your stress levels.

pearsforlife

My partner approached the bank because it was advertised on the online banking or something. May have to go the broker route!

pearsforlife

So the full application went in today. The advisor said that the valuation has been accepted and the trackit system has a tick by the valuation box? Loads of soft credit checks appeared on all 3 CRAs and a hard one on Experian, is it looking likely anyone???

sz1517

pearsforlife said:

So the full application went in today. The advisor said that the valuation has been accepted and the trackit system has a tick by the valuation box? Loads of soft credit checks appeared on all 3 CRAs and a hard one on Experian, is it looking likely anyone???

How can you tell a hard search has been done?

pearsforlife

Checked all 3 credit files! I am guessing the valuation is automatic if they have agreed the valuation and are not sending anyone out?