Remortgage hell

ACG

Their criteria says they are ok with the DMP…

That being said, my view on lenders is that you have 2 types of underwriting philosophies…

1. Look for reasons to not do the case, then if you find nothing you do the case.
2. Look for reasons to do the case and only if something bad crops up, then decline it.

Im not saying that is actually true, but where adverse is involved I tend to stick to lenders based on past experiences. I have seen enough applications where underwriters decline applications that fit criteria and there is nothing more frustrating. It reflects badly on us and wastes everyones time.

Worth having a chat with the broker to try and understand why. It might just be a combination of things, but you only know by asking.

Samlou99

Mortgage broker is still working on trying to get us a mortgage. He told my other half on Tuesday. He will be sorted by the end of this week. He hasn't let me know anything. I have text and left voicemail. No reply. This experience is enough to drive anyone round the bend. Beyond stressed.

Samlou99

Yorkshire bank told me they only accept if dmp 6 years old. Since settlement.

ACG

https://forums.moneysavingexpert.com/discussion/comment/81982828#Comment_81982828

In his defence, I tend to only deal with one of the applicants 99% of the time. Sometimes we set up a joint whatsapp group which can work well.

Fingers crossed you get something today.

Samlou99

I have phoned again today. No reply. He did say he was prioritising our case this week. I noticed a soft search done by Kensington on 29th. Maybe he is working with them due to my complications.

Samlou99

Kensington said no due to old default. She also explained affordability check didn't allow us to borrow enough.

ACG

I think Kensington are generally pretty good on affordability. I have not used them since covid time though so my knowledge of them is probably a little out dated.

I think if you are struggling on affordability with Kensington, it probably does rule out the building societies not because of the adverse, I feel like that can be overcome all day long. But the specialist lenders (of which Kensington is one) can be decent on income stretches.