Hi all,
In need of some advice as our mortgage has been declined. We had an offer accepted on a house on 07/12/20, we are applying for our mortgage through a broker. We had an AIP already when the offer was made. The mortgage has been declined because of some minor issues on my partner’s side however it’s 3 things which have added up and caused the underwriter to say no. We are quite far in with the solicitors side of things as well. The broker says she tries up to 3 lenders and will try a more ‘adverse’ one for us and also speak to them and explain why the other one got declined to see if they would accept us. Both of us have ‘fair’ credit ratings so I know we won’t get an amazing deal. I’m really worried because I don’t want the vendors to pull out because of the extra time added and I’m worried about any other issues coming up. The said issues didn’t arise until the end of the process and there were no other issues that came up. Also the original lender did their searches the other week, would a new lender have to do searches again? Please can someone offer some advice or any success stories from people who have had similar happen? Thanks