Declined an AIP by every lender

MWT

COYI123 said:

I’m prepared to pay money to the brokers , all I want is a lender to understand that my girlfriend is working up to standards again and has almost 4 months worth of income since returning to work to prove that she is , which on average is around £2-3k a month

... and a good broker will help you find the right lenders, the one you've been using does not seem to be a 'good broker' based on what you've told us at least, so time to find a better one...

COYI123

MWT said:

COYI123 said:

I’m prepared to pay money to the brokers , all I want is a lender to understand that my girlfriend is working up to standards again and has almost 4 months worth of income since returning to work to prove that she is , which on average is around £2-3k a month

... and a good broker will help you find the right lenders, the one you've been using does not seem to be a 'good broker' based on what you've told us at least, so time to find a better one...

Is there also a chance that another broker could get me an AIP of a lender that refused to give me one that my current broker tried with ? 

lonibra

Not unless your current MB made a mistake filling in the AIP application form.

ACG

lonibra said:

Not unless your current MB made a mistake filling in the AIP application form.

Thats not quite true.

The DIP could have been declined because it does not fit. The original broker might not have thought to have the conversation to see if an exception can be made. Or, a case we had a few years back the bloke went to a broker who had a DIP declined with natwest, 2 weeks later we got them a DIP with Natwest because there are little things you can do on their system to help it over the line. 

But in this case, it sounds like you may struggle. Your partner has claimed grants presumably for 12 months, the last one you had to say the business had been affected in an adverse way. 4 months of doing fine since then does not prove anything, you may have the turnover but that does not always equate to profit. 4 months is not long enough to show your partner is through the rough period. What happens if there is another lockdown for instance. Personally, even if I could place this, I would not take it on. If things go south, I imagine I would have a complaint on my desk to say I knew the business was struggling and I should not have helped obtain a mortgage.

MWT

COYI123 said:

MWT said:

COYI123 said:

I’m prepared to pay money to the brokers , all I want is a lender to understand that my girlfriend is working up to standards again and has almost 4 months worth of income since returning to work to prove that she is , which on average is around £2-3k a month

... and a good broker will help you find the right lenders, the one you've been using does not seem to be a 'good broker' based on what you've told us at least, so time to find a better one...

Is there also a chance that another broker could get me an AIP of a lender that refused to give me one that my current broker tried with ? 

A good broker tends not to ask for an AIP from a lender that isn't very likely to say 'yes'.

The lenders publish their criteria for intermediaries to use so they don't waste anyone's time applying if there is no chance of acceptance.

So unless your broker messed up and didn't key your details correctly there really isn't much chance of reversing an AIP refusal, but a good broker wouldn't go there anyway and could tell you why...

[Deleted User]

To be fair to whoever has a broker who gets declined aip's,  self employment is somewhat potluck at thr moment.  Few lenders have clear policies around seiss payments or what income to use and what they are looking for.  There is only a very small group who have actually said rhey will decline for taking seiss, most just leave it to underwriters discretion and with some it is difficult to get hold of someone to say if it will go through or not (with high street lenders i mean) 

Declines due to low scoring are also fairly impossible to predict as we don't get to see what lenders internal scoring is looking for. 

The fact most do a soft search is a great help but at 90% and above its really not uncommon to have a few surprise declines for no real reason.


The aip with tipton that OP has is probably more secure than any high street lender as they will have reviewed manually prior to giving an aip

COYI123

Deleted_User said:

To be fair to whoever has a broker who gets declined aip's,  self employment is somewhat potluck at thr moment.  Few lenders have clear policies around seiss payments or what income to use and what they are looking for.  There is only a very small group who have actually said rhey will decline for taking seiss, most just leave it to underwriters discretion and with some it is difficult to get hold of someone to say if it will go through or not (with high street lenders i mean) 

Declines due to low scoring are also fairly impossible to predict as we don't get to see what lenders internal scoring is looking for. 

The fact most do a soft search is a great help but at 90% and above its really not uncommon to have a few surprise declines for no real reason.


The aip with tipton that OP has is probably more secure than any high street lender as they will have reviewed manually prior to giving an aip

Just got a different broker , and they got me an AIP with Barclays for lending £250000 straight away 😂😂😂😂😂

ACG

Were you declined by Barclays previously or had the previous broker lied about that? 
In any event, like anything in life there are good and bad. Sounds like you had a bad broker and now you have a decent one. 

COYI123

ACG said:

Were you declined by Barclays previously or had the previous broker lied about that? 
In any event, like anything in life there are good and bad. Sounds like you had a bad broker and now you have a decent one. 

No ideas if we were before , but my old broker said their was no way we would get it with them , with my new broker I personally believe that they put more effort in getting the DIP with them

[Deleted User]

A lot of brokers i know are hesitant to try borderline cases with Barclays as its a hard credit check and dont want to make things harder if it doesnt work. 


Just be aware though that this confirms you have passed the credit check,  bringing self employed income into it will require an actual underwrite.  

Once you find a property get moving with the mortgage application asap so that you can try get an offer before spending loads on legals or surveys