mortgage advisor(s)

MartinHerts

After getting original mortgage with Northern Rock 15 years ago, I decided it is time for my first re-mortgage. 

Tried with Lloyds as been their customer for over 20 years, both as individual and business account. Application got rejected due to apparent 'credit score' rejection. I obtained my report from 'check myfile' which includes combined report from Experian, Equifax, Transunion and Crediva. Did the same for my wife as this was dual joint application.
Both reports came back as 5 star without a single negative mark within the last 6 years and beyond. 

We then approached Halifax and yet again, hit the wall with a similar comment that this application was rejected due to the issue with credit score. The advisor I dealt with suggested we need to check and straighten out our credit scoring first. So, I sent her both mine and my wife full reports where should could see there isnt a single thing which suggests an issue with our credit scoring. She eventually came back and said, although she cant see a problem either, clearly there is a problem and they will not proceed with this application. 

I am completely stuck and confused as to what possibly I can do next. How can I resolve a 'problem' which isnt visible, where information provided clearly says there isnt a single problem there. Obviously I am very conscious about applying yet again with somebody else, as I am guessing multiple applications in short period of time will adversely influence our credit scoring.  

I would therefore be extremely grateful if somebody could recommend a reliable mortgage advisor to help us with this application as I genuinely have no idea what to do next. 

Many thanks in advance

K_S

@martinherts First off, if an application gets declined for 'credit-scoring' reasons, that usually happens at the soft-check DIP stage. If that is the case, the two 'applications' you've made with Lloyds and Halifax (coincidentally part of the same group of companies - Lloyds Banking Group) shouldn't have had any adverse impact on your credit history or your chances with a new application.

What is the LTV you are applying at? Lender 'credit-scoring' thresholds are highest at high LTVs (eg: 90% and  95% LTV). And the lender 'credit-score' is calculated not just on the basis of your credit-history, but also application details, background debt, etc.

If it's a straightforward like for like remortgage, no credit history issues and your circumstances are relatively straightforward, the MSE guidance here gives a few mortgage brokers that you can potentially approach and information on how to find more brokers.
https://www.moneysavingexpert.com/mortgages/best-mortgages-cashback/#step3

MartinHerts

@K_S many thanks for your reply
Our house is valued between 380k - 440k, figure I used for application was 400k where I have outstanding 190k on my existing mortgage 

Not sure if I can ask this without breaking any forum rules, but I note you are a mortgage advisor. If this is allowed on here, can I possibly contact you directly and engage your services to complete this process?

[Deleted User]

MartinHerts said:

 

Not sure if I can ask this without breaking any forum rules, but I note you are a mortgage advisor. If this is allowed on here, can I possibly contact you directly and engage your services to complete this process?

To save K_S's modesty and any awkwardness, yes, you can approach any mortgage advisor you see on here, but they're not allowed to tout for business. 

ACG

Do you have a negative history with Halifax/Lloyds in the sense of an unpaid default for example? Some lenders do keep internal records going back further than the 6 years. 

If you are failing the credit check at around 50% LTV it would suggest there is something.