Can’t get a mortgage

COYI123

Hi everyone , was just wondering if anyone could help , I already have a mortgage on my current home but am wanting to move house , tried getting AIP with every bank so far but there not giving me the extra for my new house , affordability is fine , they just don’t seem to like something on my credit report even though my report is fine , is there literally any other way of getting a mortgage because I literally have no explanation to why this is happening 

MWT

Just to be clear, they are willing to lend, but not offering you as much as you are asking for? .. or just not willing to lend at all?

What multiple of your current income would the amount you are asking for represent? ... and is they are willing to lend a lower amount, what multiple would that be?

Also do keep in mind that just because you feel you can afford the repayments, that doesn't necessarily mean you will pass their affordability tests...

Ultimately though the quickest way to get answers and possibly the mortgage you desire is to talk to a broker so they can see if they can identify the problem...

FashionHeart

COYI123 said:

Hi everyone , was just wondering if anyone could help , I already have a mortgage on my current home but am wanting to move house , tried getting AIP with every bank so far but there not giving me the extra for my new house , affordability is fine , they just don’t seem to like something on my credit report even though my report is fine , is there literally any other way of getting a mortgage because I literally have no explanation to why this is happening 

Have you tried asking a Mortgage Broker?

Edi81

Have you looked at your credit file - is it accurate?

the issue you now have is by making lots of random applications and creating hard searches the lenders don’t like that. 

Get your credit file and speak to a broker. 

ACG

Have you looked at all of your credit reports? 
There are 3 - equifax, experian and transunion. 

Dont use sites like clearscore etc, thats rubbish as it does not give you a full 6 year history. 

If all is good on the reports that makes it a little more tricky as it could be:
- Just one of those things where the combination of everything is making it hard to pass credit checks. That could be low income, short time in job, small deposit and high expenses all combined make you a higher risk. 
- You might have an entry on CIFAS, which is like a fraud monitoring system. 
- You have just been going to wrong lenders and/or too many applications have affect you. 

As above, speak to a broker, but get copies of your credit reports in the first instance. 

MWT

You can get 30 days free at checkmyfile.com which will show you 6 years history on equifax, experian and transunion (also Crediva).

penners324

Have you spoken to a broker?