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  • FIRST POST
    • hassony77
    • By hassony77 13th Mar 18, 3:51 PM
    • 40Posts
    • 6Thanks
    hassony77
    2nd charge mortgage application
    • #1
    • 13th Mar 18, 3:51 PM
    2nd charge mortgage application 13th Mar 18 at 3:51 PM
    Probably more of a rant than an actual question, but here it goes




    So recently I applied for a secured loan, the lender (paragon) took its time making a decision, at the final moment (around christmas) they decided they wanted more information, including a second look at my passport and a copy of every page on my passport to see where I've travelled to, plus other things , my broker was annoyed with them as he believed it had something to do with my birth place being Baghdad, anyway, I decided to give them what they wanted

    When it finally seemed like they were ready to proceed, I got a phone call from them today asking me if my missus is pregnant, apparently the surveyor (who undervalued the house by nearly 70k) took some photos of the house, and one of them showed my wife in and someone at paragon noticed that she was pregnant, and based on that they decided to withdraw the offer, wasting 5 months of my time and the 550 unpaid for the survey

    My broker thinks it's something to do with my birth place rather than anything else (been a british citizen for around 30 years, and never had an issue with it) , and they were just waiting for an excuse to pull out, not sure why my wife's pregnancy has anything to do with it


    Not sure if I can complain about them or anything, do they even have the right to ask about my wife's pregnancy? Any chance I can claim the survey cost back?
Page 1
    • Thrugelmir
    • By Thrugelmir 13th Mar 18, 6:44 PM
    • 58,448 Posts
    • 51,818 Thanks
    Thrugelmir
    • #2
    • 13th Mar 18, 6:44 PM
    • #2
    • 13th Mar 18, 6:44 PM

    My broker thinks it's something to do with my birth place rather than anything else (been a british citizen for around 30 years, and never had an issue with it) , and they were just waiting for an excuse to pull out, not sure why my wife's pregnancy has anything to do with it
    Originally posted by hassony77
    Lenders wouldn't even waste their time processing your application. If you failed to meet the initial criteria. Lenders are required to act responsibility when advancing money. The underwriter will base their decision on the hard facts and internal policy criteria. Be a business decision nothing more nothing less.

    You are over thinking the situation.
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • hassony77
    • By hassony77 13th Mar 18, 7:25 PM
    • 40 Posts
    • 6 Thanks
    hassony77
    • #3
    • 13th Mar 18, 7:25 PM
    • #3
    • 13th Mar 18, 7:25 PM
    You think asking me to provide copies of each page on my passport is normal?
    • financegeek
    • By financegeek 13th Mar 18, 8:15 PM
    • 19 Posts
    • 21 Thanks
    financegeek
    • #4
    • 13th Mar 18, 8:15 PM
    • #4
    • 13th Mar 18, 8:15 PM
    Although i think asking for every page in your passport is excessive, I don't think this is the reason they decided not to lend.

    I imagine that having found out your wife is pregnant, that when they add another dependent child into the expenditure calculation, the case then fails their affordability criteria.

    Also if your wife works, they may not take her income into account if she's about to go on maternity leave.

    How many dependents did you tell them you have? and did you advise them there was another on the way?
    • enthusiasticsaver
    • By enthusiasticsaver 13th Mar 18, 8:49 PM
    • 6,370 Posts
    • 13,018 Thanks
    enthusiasticsaver
    • #5
    • 13th Mar 18, 8:49 PM
    • #5
    • 13th Mar 18, 8:49 PM
    Your wifes pregnancy is relevant if her income was being taken into account and adding another dependant may well change the affordability amounts. Were you asked about any changes in circumstances?

    Photocopies of passports is quite common with mortgage applications although not sure why every page needed to be copied.
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