Virgin Money Mortgage Rejection

ctlfc · 25 June 2018 at 1:10PM

Hello

I will be switching mortgage deals, and probably provider, in December and have been looking around for some potential rates.

I noticed some long fixes (10 years) at 90% LTV on Virgin Money and performed an eligibility check which included a soft search.

Both my wife and I have no issues on our credit file, all accounts are up to date and things are in good order but the decision said rejected based on something that came up during the soft search.

Any ideas on what the issue could be and whether this is likely to be similar with other companies?

Thanks

Edi81 · 25 June 2018 at 1:16PM

Get copies of your credit files from
The three agencies.

ctlfc · 25 June 2018 at 1:40PM

Hello

We are both on top of each reporting agency and have never had problems with gaining credit in the past. We got a joint mortgage two years ago and have had a small amount of credit applications since (PCP, Credit/stor cards etc)

Was just wondering if anyone had any ideas about whether this could be unique to a certain lender or is likely to be a problem that occurs across the board when applying for a remortgage in December.

Thanks again.

ACG · 25 June 2018 at 2:33PM

It may just be that you do not meet their internal scoring, which can be a combination of your credit reports and overall profile.

Virgin Money tend to be quite a harsh lender in certain circumstances (although I find fairly lenient in others).

Give them a call, discuss your application with them if you have not already. There could be a million and one reasons which we could list, but it will not help you and your specific circumstances.

The good news is that as you did not make a full application, you do not need to declare this as a declined application on any future applications.

Virgin Money Mortgage Rejection

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free