Mortgage broker - ask me anything

Nishh14

Hello all,
hope you can help me. 
Had a mortgage offer from Santander withdrawn in a matter of weeks. No reason given to the mortgage broker, and I have called them directly but they cannot give me any details other than to the broker.
Any ideas on what to do next other than going through another lender?

K_S

Nishh14 said:

Hello all,
hope you can help me. 
Had a mortgage offer from Santander withdrawn in a matter of weeks. No reason given to the mortgage broker, and I have called them directly but they cannot give me any details other than to the broker.
Any ideas on what to do next other than going through another lender?

@nishh14 What is the broker suggesting? If they're washing their hands off your case, it usually indicates that the lender or broker suspects something untoward (I'm not accusing you of any wrongdoing just to be clear).

Before going elsewhere, it would be useful to make an educated guess as to why the offer was pulled as that happens only rarely.

Can you guess at all? Is this a BTL or resi app?

Machair

I am thinking of buying a house that has a track to it through a land owners's field. This access track is charged annually for use and allows complete access to the house. Although I don't need a mortgage myself I am concerned if I want to sell it that it will not be mortgageable due to this, even though it is legal and allowed. Can you advise?

kingstreet

gollum007 said:

Would be interested in a broker's opinion (before I try chasing / calling around on this) on this:
* Property value approx £190,000
* Required loan £25,000
* Income £21,000 (property is currently mortgaged jn joint names with my father.)
* Unable to switch deal with current lender as they've left the market
* Approx 2k on stooze (can pay off instantly), 1k in free cash & 10k in shares.
* Repayment over 5 years.

Is this likely to be placable without too much drama?

My income is low, but I've actually been paying this for the last 15 years, despite what affordability calculators say. We're now at the stage when they say it might be doable......
Ideally also want to get it into the single name also. 

If it's not placable easily, it'll end up being paid off anyway via other means, but that's something I'd like to avoid.

Your father is party to mortgage and ownership? Are you removing him by transfer of equity? Does he live in the property? Will he live in the property?

debtfreeteacher90

Hi, 

I applied for a mortgage with Nationwide on Tuesday via one of their own advisors. 

I had a DRO order in 2015 discharged in 2016 (I have previously posted about this and got my dates mixed up.) 
it’s due to drop off my credit report October 5th. When I told my advisor this she has inputted that I’m to be discharged this October. I’ve sent evidence but I’m panicking that this will scupper our chance of being approved?? 

It was a 80% LTV no other debt or black marks on my credit file. 

K_S

debtfreeteacher90 said:

Hi, 

I applied for a mortgage with Nationwide on Tuesday via one of their own advisors. 

I had a DRO order in 2015 discharged in 2016 (I have previously posted about this and got my dates mixed up.) 
it’s due to drop off my credit report October 5th. When I told my advisor this she has inputted that I’m to be discharged this October. I’ve sent evidence but I’m panicking that this will scupper our chance of being approved?? 

It was a 80% LTV no other debt or black marks on my credit file. 

@debtfreeteacher90 As far as policy is concerned, afaik Nationwide will consider (subject to full underwriting) if you've been discharged for 3+ years.

I don't know how direct applications work unfortunately so am not able to tell what stage you're at. But given that the mistake (if any) is at the in-house agent's end, I wouldn't stress too much. 

Nishh14

K_S said:

Nishh14 said:

Hello all,
hope you can help me. 
Had a mortgage offer from Santander withdrawn in a matter of weeks. No reason given to the mortgage broker, and I have called them directly but they cannot give me any details other than to the broker.
Any ideas on what to do next other than going through another lender?

@nishh14 What is the broker suggesting? If they're washing their hands off your case, it usually indicates that the lender or broker suspects something untoward (I'm not accusing you of any wrongdoing just to be clear).

Before going elsewhere, it would be useful to make an educated guess as to why the offer was pulled as that happens only rarely.

Can you guess at all? Is this a BTL or resi app?

It's a residential application. I've tried looking at my full credit report, tax reports etc I don't seem to have any problem, even the broker can't find any faults. 
Looks like the application is not fully withdrawn but "temporarily" and is with the "head quarters". I believe is going to get declined. I'm chasing up Santander through all ends because this is so stressful. In the meantime, I have applied for subject request access from Nhunter and Cifas to see if I got anything against me. 

I was already declined once for the same house by a different lender but thought going through a different lender would solve it. Guess not. The most frustrating part is that none of them are willing to say why.

K_S

Nishh14 said:

K_S said:

Nishh14 said:

Hello all,
hope you can help me. 
Had a mortgage offer from Santander withdrawn in a matter of weeks. No reason given to the mortgage broker, and I have called them directly but they cannot give me any details other than to the broker.
Any ideas on what to do next other than going through another lender?

@nishh14 What is the broker suggesting? If they're washing their hands off your case, it usually indicates that the lender or broker suspects something untoward (I'm not accusing you of any wrongdoing just to be clear).

Before going elsewhere, it would be useful to make an educated guess as to why the offer was pulled as that happens only rarely.

Can you guess at all? Is this a BTL or resi app?

It's a residential application. I've tried looking at my full credit report, tax reports etc I don't seem to have any problem, even the broker can't find any faults. 
Looks like the application is not fully withdrawn but "temporarily" and is with the "head quarters". I believe is going to get declined. I'm chasing up Santander through all ends because this is so stressful. In the meantime, I have applied for subject request access from Nhunter and Cifas to see if I got anything against me. 

I was already declined once for the same house by a different lender but thought going through a different lender would solve it. Guess not. The most frustrating part is that none of them are willing to say why.

@nishh14 If no one's giving you a clear answer and you've been declined twice, it's almost certainly to do with the lender having access to data which makes them suspect the applicant of attempted fraud. This data will not be on the credit files and the policy usually is to not give any details.

I would recommend first getting sight of your data from CIFAS before making any further applications. It usually comes through in a week or so. You could also SAR the first lender that declined you, that may reveal their reason as well.

Nishh14

K_S said:

Nishh14 said:

K_S said:

Nishh14 said:

Hello all,
hope you can help me. 
Had a mortgage offer from Santander withdrawn in a matter of weeks. No reason given to the mortgage broker, and I have called them directly but they cannot give me any details other than to the broker.
Any ideas on what to do next other than going through another lender?

@nishh14 What is the broker suggesting? If they're washing their hands off your case, it usually indicates that the lender or broker suspects something untoward (I'm not accusing you of any wrongdoing just to be clear).

Before going elsewhere, it would be useful to make an educated guess as to why the offer was pulled as that happens only rarely.

Can you guess at all? Is this a BTL or resi app?

It's a residential application. I've tried looking at my full credit report, tax reports etc I don't seem to have any problem, even the broker can't find any faults. 
Looks like the application is not fully withdrawn but "temporarily" and is with the "head quarters". I believe is going to get declined. I'm chasing up Santander through all ends because this is so stressful. In the meantime, I have applied for subject request access from Nhunter and Cifas to see if I got anything against me. 

I was already declined once for the same house by a different lender but thought going through a different lender would solve it. Guess not. The most frustrating part is that none of them are willing to say why.

@nishh14 If no one's giving you a clear answer and you've been declined twice, it's almost certainly to do with the lender having access to data which makes them suspect the applicant of attempted fraud. This data will not be on the credit files and the policy usually is to not give any details.

I would recommend first getting sight of your data from CIFAS before making any further applications. It usually comes through in a week or so. You could also SAR the first lender that declined you, that may reveal their reason as well.

Jesus, that sounds worrying. I will wait and see what their headquarter come up with. Thanks for the help.  

Kerst83

Hi, we’re buying a new build and have applied for a mortgage with platform via a broker. Our mortgage broker has let us down, 4 weeks into applying, no credit check yet and they keep asking the same questions that we’ve already answered three times  🤬🤯🤬

We need to go somewhere else, to make sure we get an offer and don’t lose the house. 

Is it ok to apply directly? (We’re thinking Halifax or HSBC) Or is it best to go via a different broker? Can we have two applications going at the same time and then take whichever comes in first? Any help highly appreciated!