Kent reliance Mortgage with few credit issues

JustMe18

ACG said:

Ah ok. 
Just to play devils advocate here, you have a history of missed payments a year ago. You also have missed payments much more recently... Thats veering from a blip to a trend of poor money management. 

Im not judging here, just trying to explain it from the lenders side. 

I would still class it as mild and it is one of the reasons why I avoid Precise (which is part of a group with Kent Reliance). Kent were really good back in the day, when they merged they took the Precise philosophy of underwriting which is basically look for a reason to not lend (in my opinion). 

Honestly, I dont know how your appeal will go. Thats not me being negative, its a genuine I have no idea. I think it is worth an appeal as I think it is mild, its not like you have missed or paid late on mortgage/rent payments (I assume). But knowing Precise its almost like the underwriters are lending their own money.

Although adverse is what I do on a daily basis, shared ownership is not really my bag, but I feel like there are other building societies who may consider it. 

I still disagree with their decision, we are agreeing to 5 years fixed rate of 6.14% not because we are perfect, but because we know about our issues and KR is a specialist lender to deal with people like us. Even I don’t count myself as the worst ever mortgage applicant. They want us to provide them 3 months of “clear banking” - that will be the case on 23rd of January. I can then provide full three months without any returned DD ,but even when that DD returned, it’s only a small amount and It didn’t cause a late payment , its just because they only checked 1 account and we have 6 of them. They weren’t even bothered to check the other. Forgetting transferring money doesn’t mean we don’t have it.It’s not a late payment at all. 

We had a few late payments a year ago - the card which is closed in March 23. The. British gas in June, that’s all. Everything up to date. So I have sent that complaint out, will see how it goes, chances are very low. But we will try to re-apply again in February I guess anyway. 

And yes you are right - our current mortgage is with Leeds, in 7 years never missed a day of it. 

ACG

They are a specialist lender, but I see them as mild specialist lender living off a reputation they built up by being one of the first ones out there after the last recession. I am not their fan, I stopped using Precise after they declined 2-3 of our customers for similar poor reasons - all of them were placed elsewhere. It reflected badly on us and it felt like they were looking for reasons to decline rather than reasons to lend.

I agree with you, I would lend you the money (not that I have it). But there is still a recent history of arrears/poor management (just in the interests of trying not to be biased). 

JustMe18

ACG said:

They are a specialist lender, but I see them as mild specialist lender living off a reputation they built up by being one of the first ones out there after the last recession. I am not their fan, I stopped using Precise after they declined 2-3 of our customers for similar poor reasons - all of them were placed elsewhere. It reflected badly on us and it felt like they were looking for reasons to decline rather than reasons to lend.

I agree with you, I would lend you the money (not that I have it). But there is still a recent history of arrears/poor management (just in the interests of trying not to be biased). 

so they are asking us to provide 3 months of "clear banking" before re-applying. So clear banking is meant without returned direct debit - I will have this on 23rd of January, as there was just one returned DD on 23/10 for a silly amount and we also have proof that we had around £6000 on another account that time. But if it's their requirement , than OK, its just sounds silly, because it's just a matter of 5 days?? they could just do an exception, especially completion itself will be in July-August. So I am confused, to apply again in February or to do what? 
Had also silly thought to port my current mortgage I have with Leeds, as we also have shared ownership right now, but I think Leeds won't accept us, even we are existing customers for 7 years and never missed a payment? 

ACG

If you are borrowing no more you could speak to Leeds. I dont use Leeds much as the customers they target are generally different to the ones we target so not the most experienced with them. 

With regards to Kent, I assume you have a broker? Speak to them, I think for the sake of 5 days you might be able to just appeal and get it overturned rather than re-apply but not sure on their process. 

JustMe18

ACG said:

If you are borrowing no more you could speak to Leeds. I dont use Leeds much as the customers they target are generally different to the ones we target so not the most experienced with them. 

With regards to Kent, I assume you have a broker? Speak to them, I think for the sake of 5 days you might be able to just appeal and get it overturned rather than re-apply but not sure on their process. 

No, borrowing more that we have with Leeds, only have £44k outstanding with them, selling current share for £98k and buying new one for £200k. So it will be I guess classed as new application? Our affordability is more than enoug for £200k , its not an issue. 

Regarding Kent, we've got broker , but he is very bad if I'm honest. Not wanting to do a thing, never replies, i did sent him a letter explaining one missed payment ( letter from a company which bankrupted and for 3 years they didn't ask us to pay , because actually we didn;t receive a product, so this late payment of 1 month has explanation), but he didn't even forward that to Kent. Also why they only checked 1 account statement, if we use 3 each. They didn't ask for other statements. So Im not too sure what to do, this broker is provided by developer, read very good reviews about them, that they will literally fight for very mortgage, but looks like not our particular one.