Mortgage Declined - Happy endings please!

[Rosesinmay]

Just that really, mortgage declined after a nail biting few weeks. Our M/A has applied to a new lender this morning.

Anyone in the same boat, I need positive stories please. Another weekend of worry ahead.

The joys!

Sorry to hear that - are you able to find out the reason for the decline?

At what stage has the decline come through, as this may help / hinder your options

Not declined but we were ghosted by our mortgage company, house we were selling was with them and we wanted to buy a new house. They agreed in principle but we’re then just really evasive.

Went with a different lender with no issue.

Why was the mortgage declined?

We had our mortgage declined because lender wouldnt lend on a particular property rather than anything to do with us. Not sure what we'll do yet but all the best for you guys. We tried to appeal but that got turned down. Hoping to port our existing mortgage so will now either have to find a new property or pay a massive penalty and get a new lender hoping that this time it works out.

Was it HSBC by any chance? They are HARSH. They're always the first to pull products. They left some poor pregnant woman hanging on MN recently and refused to give her a reason.

The good news is, lenders all have vastly different criteria and things that are important to them. I'm sure your MA wouldn't have applied if they didn't think it would be successful.

Better luck next time. I'm sure it will all come good.

are you using an advisor. If so they should really know who will accept you. We had an application declined (we’d applied directly) and then used a broker (recommended to me on here) who immediately knew who was a better fit for us.

We had our first mortgage declined, back in 2016 - 6 years previously when I'd left uni I had one month where I was unemployed and had a voluntary agreement to miss one month's credit card payment on my student credit card (it only had something like £200 on it!). It didn't show up on Experion as a 'missed payment' and I'd been proactive about approaching Natwest about it but somehow it flagged on the system. I'd not even thought to mention it to the broker as I'd basically forgotten about it - it was so long ago and had been agreed by the CC company - but whatever it was it spooked the lender.

I had a literal meltdown about it but our broker was fab, said 'ok, now we know about it I can make sure we find a lender for whom it won't be a problem' and our second mortgage app went through without a hitch. Fingers crossed for you OP!