Mortgage promise declined

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Sjane
Sjane Posts: 11 Forumite
in Mortgages & endowments
Hello, I’m looking for some advice and pretty sure I’m in the right place for it :) so I applied with L & C for a remortgage a wee Friday gone - I’ve spoken to two more people since as my original contact is on holiday - the last person I spoke with (last Wednesday) said he had everything and he couldn’t see any reason it wouldn’t go through as he had a copy of my credit file too - great I thought!! Anyway I don’t believe it has been put to the bank as I’ve read mortgage promises are quite quick and assume I have to wait for my original contact person to return from holiday as I’ve had no contact since!! As I’m inpatient I decide to check with the bank myself and it’s declined due to scoring (I know this won’t effect getting a decision elsewhere) - is this likely going to be the same answer the broker gets?
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  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    Why do you believe that your broker is going to receive a different message?
  • Sjane
    Sjane Posts: 11 Forumite
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    Hi - I don!!!8217;t necessarily think the broker is going to get a different message - what I said in my original post was that the broker I spoke with couldn!!!8217;t see it not going through as he could see my credit file and knew my affordability was way above what I was looking for - so based on your answer it!!!8217;s likely it will get declined full stop
  • middleclassbutpoor
    middleclassbutpoor Posts: 774 Forumite
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    Did you supply a copy of all 3 credit files?
  • ACG
    ACG Posts: 23,727 Forumite
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    It is very possible your broker could get a different decision to you.

    Last year I had a case where the client went via a broker and had their application declined. We went to the same lender a couple of weeks later and he is now in his new home.

    Some people are too honest, inexperienced brokers do not know how to manipulate the systems to get the best possible outcome and so on.

    But one lender declining you is not the end of the world.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Sjane
    Sjane Posts: 11 Forumite
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    Thank you - that’s quite helpful
  • Sjane
    Sjane Posts: 11 Forumite
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    Just Equifax -
  • Amst
    Amst Posts: 141 Forumite
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    ACG wrote: »
    Some people are too honest, inexperienced brokers do not know how to manipulate the systems to get the best possible outcome and so on.

    I've seen you give a lot of good advice and regularly comment but this is a strange thing to say. Any broker that withholds information that would be of detriment to the application, even under the guise of being experienced, is putting the application at risk.

    Where I work we have pulled plenty of offers days before completion due to fraud checks, non-disclosure (forgetting you are pregnant for instance...:rotfl:) and information coming to light that lo and behold, the broker knew about. It's never pleasant but we are protecting ourselves and our honest customers.

    There is less impact if you're manipulating the best outcome on a 60% straight balance swap remortgage but if you're doing it on a 95% FTB case, with interest rates still at a relatively all time low, that is a problem.
  • ACG
    ACG Posts: 23,727 Forumite
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    edited 13 August 2018 at 9:49PM
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    Amst wrote: »
    I've seen you give a lot of good advice and regularly comment but this is a strange thing to say. Any broker that withholds information that would be of detriment to the application, even under the guise of being experienced, is putting the application at risk.

    Where I work we have pulled plenty of offers days before completion due to fraud checks, non-disclosure (forgetting you are pregnant for instance...:rotfl:) and information coming to light that lo and behold, the broker knew about. It's never pleasant but we are protecting ourselves and our honest customers.

    There is less impact if you're manipulating the best outcome on a 60% straight balance swap remortgage but if you're doing it on a 95% FTB case, with interest rates still at a relatively all time low, that is a problem.

    Noooo, I do not condone lying or "forgetting" - far from it. If I find out a client has lied or forgotten about that massive bump they have, I drop them quicker than a hot potato.

    By manipulating the system I mean little subtle changes that make minor improvements. Imagine how MArtin lewis says to try altering your job to give you a better premium - Mortgage Broker/Mortgage Advisor could result in 2 different premiums for example.

    I realise a job title will not alter anything on an application, but it is those little things. As an example, one lender adds points to your application if you put in a landline number. Most people do not give you a landline but if you plonk a mobile number in, it gives you those extra points.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Nnenne1
    Nnenne1 Posts: 28 Forumite
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    edited 13 August 2018 at 11:21PM
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    Which company do work at, so I know to avoid when getting a mortgage! Lol
  • jaelato1
    jaelato1 Posts: 139 Forumite
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    Nnenne1 wrote: »
    Which company do work at, so I know to avoid when getting a mortgage! Lol
    So unnecessary!

    I understand what ACG is trying to say but seem to lost in translation - Its like Tax avoidance as oppose to Tax evasion (I'm probably going too far with the comparison), People manipulate the system in a legal way all the time. :D
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