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Help please
3 Posts
(Offline)
1
13/01/2021 - 10:17 am

After 3 weeks, just been declined by a bank but don’t know why

Now not returning my calls and even waited in branch to see advisor

Estate Agent wants to sell the house to someone else now

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157 Posts
(Offline)
2
13/01/2021 - 10:17 am

Hi there,

Appreciate it is a stressful time, although difficult to give an opinion on the limited facts available.

There are many lenders and many of them will accept something that another will not.

Well worth obtaining a copy of your credit file to ascertain if that is the issue, alternatively it could be bank account conduct or an issue calculating your income.

The bank in question should certainly be communicating though…

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Help please
3 Posts
(Offline)
3
13/01/2021 - 10:18 am

Incredible – Just heard back and it was all to do with an old default they found apparently

They couldnt tell me anything about it apparently

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157 Posts
(Offline)
4
13/01/2021 - 10:18 am

It is important you ascertain exactly what is on your credit file and then have someone experienced interpret it.

There are a variety of credit agencies who largely offer a free trial, but the content of these is critical.

Dates, values and the type of credit will be critical to any future mortgage application as will your deposit level.

Best of luck

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Help please
3 Posts
(Offline)
5
13/01/2021 - 10:18 am

Oh my, at an old address I had 4 defaults that I was unaware of.

If I pay them will I get the mortgage from the bank?

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157 Posts
(Offline)
6
13/01/2021 - 10:18 am

Hi,

It is unlikely the original bank will reconsider this, as it is likely this was the reason they subsequently declined.

That doesn’t mean you wont be suitable for another lender, but assume speed is critical now so would suggest you get your credit file and details to someone suitably qualified/experienced.

It is critical you declare every little detail of what has happened so far and share your credit file upfront.

Good luck

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