putting in further mortgage application

Neveragain22

We are 2xFTB currently awaiting mortgage approval with HSBC, through a broker.

Details are below, but in short, we are considering entering into a second application with a different lender (direct or with a different broker), as this process is taking so long. If we were to do this, would the credit search cause issues with our first application? From reading here it sounds as if applying elsewhere after a failed application is common and doesn't seem to cause a lot of issues.


We are almost 4 weeks post application and still having issues getting anywhere. The valuation had been done, and presumably, there were no issues with that and the case is currently with the underwriter. 

The broker (large online broker) has been extremely poor throughout, not passing on queries, being uncontactable and incredibly vague about what the underwriters actually wanted to know. We are a relatively straightforward case, both salaried FTB with 90%LTV

We have had issues with one of our credit records, with a linked address (now removed) and a previous address not appearing on the electoral roll (unfortunately we didn't realise this would be an issue as we have lived at our current address for 9 years. 

Having fixed this we have passed this back to the broker to take up with the underwriters.

Our concern is that if this is not resolved to their satisfaction it will take further weeks to clear up. It's also thrown up an issue with some late payments on an old account just over 6 years ago, which has caused a lot of anxiety as I believe HSBC do not like this. 

Our sellers are very keen to move and we're becoming increasingly anxious they will pull out. 

Any advice would be appreciated

K_S

@neveragain22 I'm not speculating on what impact (if any) an additional hard-check might have at this stage on your particular scenario as you've highlighted a few different things re your credit report (which may or may not be relevant to a further mortgage app).

But very generally speaking you are right that it's not uncommon for applicants to put in a second (or even third!) mortgage application after being knocked back on one. From experience, by itself a recent previous mortgage application hasn't ever stopped me from getting a mortgage for a client.

Neveragain22 said:

We are 2xFTB currently awaiting mortgage approval with HSBC, through a broker.

Details are below, but in short, we are considering entering into a second application with a different lender (direct or with a different broker), as this process is taking so long. If we were to do this, would the credit search cause issues with our first application? From reading here it sounds as if applying elsewhere after a failed application is common and doesn't seem to cause a lot of issues.


We are almost 4 weeks post application and still having issues getting anywhere. The valuation had been done, and presumably, there were no issues with that and the case is currently with the underwriter. 

The broker (large online broker) has been extremely poor throughout, not passing on queries, being uncontactable and incredibly vague about what the underwriters actually wanted to know. We are a relatively straightforward case, both salaried FTB with 90%LTV

We have had issues with one of our credit records, with a linked address (now removed) and a previous address not appearing on the electoral roll (unfortunately we didn't realise this would be an issue as we have lived at our current address for 9 years. 

Having fixed this we have passed this back to the broker to take up with the underwriters.

Our concern is that if this is not resolved to their satisfaction it will take further weeks to clear up. It's also thrown up an issue with some late payments on an old account just over 6 years ago, which has caused a lot of anxiety as I believe HSBC do not like this. 

Our sellers are very keen to move and we're becoming increasingly anxious they will pull out. 

Any advice would be appreciated