Declined twice with no reasons given!!

george0001

Hi all I'm looking for some advice and maybe an understanding of what I can do next so i will try and give you as much information as possible

I am a first time owner looking to purchase my first house. I have now applied for 2 different mortgages through 2 different mortgage advisors. I have recently changed jobs in January but with 0 gaps in between the two jobs. I earn enough income for the amount I have asked to borrow and have a full paper trail of everything I need

The first mortgage I applied for was looked at and declined within a couple of weeks with no reason given, at this point my mortgage advisor basically said he could not help me. Fast forward a few days and I managed to find a new broker and apply for another mortgage. After waiting 4-5 weeks of the lender saying the application has been sent on for an internal audit and a higher level underwriter, it has now been declined with no reason given again. 

Since then I have requested a DSAR report with CIFAS and they have come back saying there is nothing on their system with my name or address. I have also ran credit checks on checkmyfile with nothing on there stating I have bad credit or any debt. 

I'm wondering where to go next with this, do I apply for another mortgage and hope for the best? I'm really lost at this point and need all the help I can get really!

kingstreet

A SAR to National Hunter to see the data variance between the applications?

https://nhunter.co.uk/subject-access-request/

george0001

Thanks, I will give that a go and send the request of ASAP

ACG

Its interesting that there is such a long wait between application and decision - which lenders were applied to? Are there issues? Most lenders on the high street would have a decision in less than a week. 

george0001

The first was Nationwide and the second was Leeds Building Society, and yes that's the thing we cant really work out because from what Leeds said, for it to get to the secondary audit it will have basically had to have been approved by both the first initial checks and the first underwriter 

JustMe18

did you read lender's criteria? It's all written in their website. Maybe there is something you don't fall into ? for example they want you to be in one job at least for 6 months, but you haven't? 

george0001

My mortgage advisor went through all the criteria and said it would be fine to have just the last 3 months of payslips in the new job due to the 0 time in between jobs 

JustMe18

Maybe affordability issue?  Small deposit? Using your overdraft? Obviously you don't get refused with no reason normally...

george0001

Thought about that too, so it went through all of the affordability checks and had no issues, it's a 10% deposit and nothing in the overdraft. As I say my mortgage advisor has been through everything and is stumped also 

Myci85

Surely it is for your broker to go back and speak to the lender to ask exactly why it was declined?

george0001

That was my thought too but we have been back to them on multiple occasions and they are refusing to give any reasons