Mortgage offer but lower amount

Lexi2828

So were ftb and have a broker who has been great so far, he did a dip with barclays at first who gave us a provisional accept, 
We found a house we liked viewed it a couple of times and put in an offer for 127500 and it was accepted and taken off the market stc.

Our broker then decided to do a dip with skipton as barclays was unwilling to accept part of our universal credit as income, skipton gave us a full accept on the dip. 
This week he sent off all required documents and a valuation was done on the 26th. 

Our broker left me an answer phone message today saying they have made an offer but it is 10,000 less than the amount we need. 

I will also add our deposit is 15 percent 

Anyway so they say it is due to undisclosed credit, now on my credit report with transunion (credit karma) there is about 5640 worth of debt that I no longer have and have paid off this month. 

A small loan, a credit card with 2500 balance and some spits and spats on very, argos, PayPal credit etc which has all cleared now. 

Its a bit confusing because the broker is I believe a family friend so my husbands parents have been communicating with him also and he knew about the credit card and small loan but also knew I had paid them off so not sure if he disclosed that info that I did have a credit card with a balance now has a zero balance. 

My main question is If I provide skipton with recent statements for all zeroed undisclosed credit do you think they will re evaluate the amount they're willing to lend to us possibly. Our broker has asked for these documents now as well to provide them with so I'm hopeful but just wondering if anyone else had a similar situation before that could tell me a possible outcome. 

Thanks for reading 

jemima82

Since the first credit check you have paid off your debts....so now have credit available on those cards. Hence the appearance of ‘undisclosed credit’. Not sure if closing the cards or reducing credit limit to much lower, then reapplying would help - your broker should be able to advise.

the mortgage lender’s worry is that you run up the debt again and then have less money to pay your mortgage as well as bills & credit card repayments. 

Lexi2828

Well I had paid off the debt probably a week before we did the dip and the following week we put in the full application and everything is still showing on my current credit report. 

I can close all the credit cards if they need along as we get our mortgage haha

My husbands dad spoke to our broker this afternoon cause they're pals and he wants me to send him all my statements to provide proof that they have been paid off so I will be doing that this weekend. 

I will update with an outcome hopefully next week

jemima82

Good luck! To be fair my understanding could be wrong and maybe it is the (no longer real but still on credit report) ‘debt’ that is the issue.

Lexi2828

Hi op here, just to keep the thread accepted we sent off all the documents to prove that debt no longer existed on the 27th oct and received our full offer for the mortgage on the 28th. 

Were so happy and all in all it took 1 week form application sent in till the offer we wanted so very fast. 

Doozergirl

Lexi2828 said:

Hi op here, just to keep the thread accepted we sent off all the documents to prove that debt no longer existed on the 27th oct and received our full offer for the mortgage on the 28th. 

Were so happy and all in all it took 1 week form application sent in till the offer we wanted so very fast. 

Congratulations. 

I've only just seen the thread and I was hopeful that would be the case upon reading the OP.  Thanks so much for coming back with the update, it's valuable to us and to others in the future x