Mortgage offer given but later decilned by auditors

ayers

Hello. I was hoping someone can provide me with some possible answers.

I have held a mortgage with a high street Building Society since 2003. It's a joint mortgage with myself and my spouse. We have never missed a payment and do not have any debt.

As we are separated which is completely amicable, I did an application to buy her out of our joint mortgage which was accepted and I was given a mortgage offer.

However, my application was audited randomly and declined. I pushed for a reason but was only told that it was on the basis on security. I was also told that I will not be able to make a mortgage application with them at all and will have to look to do this elsewhere. They said that no more information for the reason for the decline will be given.

I did an experian credit check and my credit score showed 999 which is excellent. I am completely puzzled as to why I was given a mortgage offer and then for it to be declined.

I would like to know the reason so that I can correct it before applying for a mortgage elsewhere.

can anyone provide any suggestions?

Thanks in advance.

[Deleted User]

Check what appears on each of your files. Ignore the scores are they're just a gimmick for entertainment only and not used in lending decisions.

Lenders will be looking at your income and credit history. Affordability is often an issue when moving from a joint mortgage to a sole one.

ayers

Thanks zx81. I will check this.

K_S

ayers said:

Hello. I was hoping someone can provide me with some possible answers.

I have held a mortgage with a high street Building Society since 2003. It's a joint mortgage with myself and my spouse. We have never missed a payment and do not have any debt.

As we are separated which is completely amicable, I did an application to buy her out of our joint mortgage which was accepted and I was given a mortgage offer.

However, my application was audited randomly and declined. I pushed for a reason but was only told that it was on the basis on security. I was also told that I will not be able to make a mortgage application with them at all and will have to look to do this elsewhere. They said that no more information for the reason for the decline will be given.

I did an experian credit check and my credit score showed 999 which is excellent. I am completely puzzled as to why I was given a mortgage offer and then for it to be declined.

I would like to know the reason so that I can correct it before applying for a mortgage elsewhere.

can anyone provide any suggestions?

Thanks in advance.

@ayers Based on the limited info in your post, and if they've said that you "won't be able to make a mortgage application with them at all" that may indicate that they have identified risks that are outside the usual underwriting criteria (credit history, affordability, etc.) - so things like misrepresentation, fraud, etc. Just to be clear I'm not saying that that is the case or that you have done something wrong, just that the lender might consider that to be the case.

If you want to get more internal details on why the application was declined, you would need to put in a SAR (Subject Access Request). The mechanics will differ based on the lender, but usually there will be a cost-free online way to do it, such as this for Nationwide 
https://www.nationwide.co.uk/about-us/cookies-privacy/your-information-rights/#right-to-access

kingstreet

If a discrepancy with the data from another credit application has triggered a national hunter alert, obtain such data here;-

https://nhunter.co.uk/subject-access-request/

ayers

Thank you K_S and kingstreet

simon_or

Don't forget to put in a SAR with CIFAS as well. https://www.cifas.org.uk/contact-us/subject-access-request/subject-access-request-form

ayers

Thanks simon_or! I will do that to.