Kensington Mortgages

CookandClean123

I've been declined by Kensington mortgages due to rent arrears. In short i was previously on Universal credit and they paid the rent. they always pay a month in arrears so my rent account was in arrears. Since my circumstances have changed and now off Universal credit i have brought my account up to date and continued to pay no issues. Is it worth appealing or is this the end. It has really stressed me out as we have been through so much stuff and this was the last thing they were waiting for.   

Houseyboo

Hiya! I am trying for a mortgage through Kensington too. Did you appeal in the end? Did you go through a broker, maybe you can explain that to them if it’s not too late and show the new evidence to back it up? 

Houseyboo

@CookandClean123 ^

CookandClean123

Houseyboo said:

Hiya! I am trying for a mortgage through Kensington too. Did you appeal in the end? Did you go through a broker, maybe you can explain that to them if it’s not too late and show the new evidence to back it up? 

I did but they didn't change their stance. I'm going through a new application and the rate is better so fingers crossed. How did your app go? 

ReadySteadyPop

CookandClean123 said:

I've been declined by Kensington mortgages due to rent arrears. In short i was previously on Universal credit and they paid the rent. they always pay a month in arrears so my rent account was in arrears. Since my circumstances have changed and now off Universal credit i have brought my account up to date and continued to pay no issues. Is it worth appealing or is this the end. It has really stressed me out as we have been through so much stuff and this was the last thing they were waiting for.   

Wait for a while and keep rent account in credit then go to another lender ? Most lenders are being ultra cautious now though.

caprikid1

"Wait for a while and keep rent account in credit then go to another lender ? Most lenders are being ultra cautious now though."

Can you provide some link or substantiation to lenders being ultra cautious ? No seen it my self.

Do you work in the industry ?

CookandClean123

ReadySteadyPop said:

CookandClean123 said:

I've been declined by Kensington mortgages due to rent arrears. In short i was previously on Universal credit and they paid the rent. they always pay a month in arrears so my rent account was in arrears. Since my circumstances have changed and now off Universal credit i have brought my account up to date and continued to pay no issues. Is it worth appealing or is this the end. It has really stressed me out as we have been through so much stuff and this was the last thing they were waiting for.   

Wait for a while and keep rent account in credit then go to another lender ? Most lenders are being ultra cautious now though.

I actually got approved today buy another lender which offered a much better rate so has all worked out for the best.

Silvertabby

caprikid1 said:

"Wait for a while and keep rent account in credit then go to another lender ? Most lenders are being ultra cautious now though."

Can you provide some link or substantiation to lenders being ultra cautious ? No seen it my self.

Do you work in the industry ?

Nothing new.  Back in my RAF days, it was SOP for all married quarter rents - from very senior officers to SACs - to be taken direct from salaries.  

When someone moved into a new MQ in the second half of the month (ie, after the monthly pay roll had been run) the previous part month's rent would show on the next pay statement as 'arrears'.  No amount of arguing with mortgage lenders that these weren't arrears in the true sense of the word worked - they would just insist that their rules didn't allow them to lend to someone with recent rent arrears on record.  

I would hope common sense now prevails, but back then we would advise new arrivals not to apply for a mortgage until they had at least 3 monthly payslips that were free of the dreaded A word.

CookandClean123

Silvertabby said:

caprikid1 said:

"Wait for a while and keep rent account in credit then go to another lender ? Most lenders are being ultra cautious now though."

Can you provide some link or substantiation to lenders being ultra cautious ? No seen it my self.

Do you work in the industry ?

Nothing new.  Back in my RAF days, it was SOP for all married quarter rents - from very senior officers to SACs - to be taken direct from salaries.  

When someone moved into a new MQ in the second half of the month (ie, after the monthly pay roll had been run) the previous part month's rent would show on the next pay statement as 'arrears'.  No amount of arguing with mortgage lenders that these weren't arrears in the true sense of the word worked - they would just insist that their rules didn't allow them to lend to someone with recent rent arrears on record.  

I would hope common sense now prevails, but back then we would advise new arrivals not to apply for a mortgage until they had at least 3 monthly payslips that were free of the dreaded A word.

Really, its so silly really they can see i pay every month without fail the council even confirmed its not arrears and no issues but they still refused. thankfully it led to me going elsewhere and getting a much better rate so worked out for the best really.