Nationwide mortgage decline after survey done

NotThatYoungEagle

Dear All,

I am heartbroken and in kind of depression. After around half year of search of a house our Nationwide mortgage was declined after the survey done.
We have been ok through AIP and everything. We have been  checked by the advisor before the submission but nothing has happened.
We have tried to get the answer and the reason why and there is no answer ( emailed the advisor ) 

I think that could be my job? However the adviser said he was ok with it

kingstreet

Do you mean after the lender's mortgage report & valuation was done, or after your own survey was carried out?

If you'd like to tell us about your job we might be able to comment on its likely impact.

K_S

@NotThatYoungEagle Sorry to hear that.

From the title of your post it sounded like the valuation was the issue, but from I can tell you're not sure if it's the property or something to do with the applicant.

You need to first understand the reason for the decline, hopefully your broker will give you a clear answer and suggest a way forward.

NotThatYoungEagle

kingstreet said:

Do you mean after the lender's mortgage report & valuation was done, or after your own survey was carried out?

If you'd like to tell us about your job we might be able to comment on its likely impact.

Hi yes, My mrs she has job and I work at the same company. She is on 42K for 4 months ( but bank was asking for the last payslip)  and I have started new role at £47K at the same company. ( Property small limited company ) and due to receive 1st payslip at the end of this month. ( I have submitted contract ) to the bank.

The property is £510K and we had only £50K deposit 

kingstreet

I have to agree with K_S.

You need to ask whoever arranged your mortgage for the reason for the decline.

NotThatYoungEagle

We have applied directly so there is no broker. The guy had a look ( someone from Natiowide). and said it was all ok

NotThatYoungEagle

kingstreet said:

I have to agree with K_S.

You need to ask whoever arranged your mortgage for the reason for the decline.

We have applied directly so there is no broker. The guy had a look ( someone from Natiowide). and said it was all ok

NotThatYoungEagle

The biggest issue - THERE IS no answer WHY THE MORTGAGE WAS declined! I have sent so many emails now and no answer 

NotThatYoungEagle

Is it nNotThatYoungEagle said:

The biggest issue - THERE IS no answer WHY THE MORTGAGE WAS declined! I have sent so many emails now and no answer 

Is it normal practise for the lender not to give the answer why it was declined ?? And not to give any answer at all??!

Thanks

kingstreet

No, but we don't deal with the same people and have the means of establishing, sometimes only roughly, the reason for a decline.

K_S

NotThatYoungEagle said:

Is it nNotThatYoungEagle said:

The biggest issue - THERE IS no answer WHY THE MORTGAGE WAS declined! I have sent so many emails now and no answer 

Is it normal practise for the lender not to give the answer why it was declined ?? And not to give any answer at all??!

Thanks

@NotThatYoungEagle I don't know about direct applications, but it's not for intermediary applications. As Kingstreet said above, as a broker it's very rare that we are not able to establish the reason for a decline, either explicitly based on what the lender says or by deducing the reason ourselves.