Mortgage offer after AIP with Kent reliance

[Anzhelka]

Hello. We are currently awaiting our mortgage offer from Kent reliance , specialist lender , as we had some adverse credit history and couldn't go with high street lenders. We have a good income and deposit though. It's so far has passed valuation, hard credit check, affordability. Are we in good position for an offer? We have applied through broker and all adverse were declared to them and they are aware. They asked some question recently about childcare etc. , so I have sent additional documents.
Has anyone been declined after AIP? I know it's been asked millions of times here. I guess I just need some support, as I am scared even opening my emails. I went today to view the house, it's a new build and it's sooo good.

Hi,

I am also in a similar situation to you although my application has only just gone in so I’m further behind and terrified of loosing the house after being declined by TSB. 😭

just wanted to say wish you all the luck, I think at the stage you are at with valuation being completed I think you will get a mortgage offer.

can I ask what the time frame has been?

my issue is a few payments have made me slightly overdrawn and I have 1 missed payment on an u secured loan which was paid back within 2 months.

it’s a really stressful time, I have my fingers crossed for you.

😊

Sorry I was declined after AIP but it was because the flat was unmortgageable not because of our credit issues. Our broker should have checked they accepted the type of property IMO as we now have a full mortgage credit check on our files that didn't lead to anything, as well as the rest.

If the property is sound I don't think it should happen after AIP. We pulled out as we couldn't get anywhere with it all and are still renting 6 months later.

I hope it turns out well for you.

The timeline so far :
21/11 - got an AIP
23/12 - submitted full application
23/12 - hard credit check appeared
27/12 - valuation carried out
02/01 - MA rang saying valuation, affordability, hard check were OK, but need more documents
04/01 - documents sent to Kent

they asked again yesterday about defaults, as there were discrepancies between what MA submitted and credit file - but confirmed these were the only ones.
been advised Kent are back assessing it.

The house will be only built in June-July, so there wasn't any issue with valuation.
We had 2 defaults slightly more than a year ago, settled within 1 month since defaulting. £850 & £4500, but KR were aware of this at AIP stage.
We have current mortgage with Leeds , in a 7 years never missed a payment.
Income around £6k a month total. New mortgage payments would be £1500, so affordability is all fine. Also we have deposit from sale. I have an overdraft though which I use sometimes ( £400) and I have car finance of £24k, but affordability still fine. Dreading it, as new house is good and this waiting is just killing me. Good sign is , that if it wasn't declined during 3 weeks waiting , maybe it won't lol

Hi can I ask if you’ve had another yet? I’m in the process of waiting. Although the time online state only a few days for documents it feels like it’s much longer

Unfortunately ours was refused....I am submitting an appeal now, as it's just due to a silly returned DD, which comes off the file on 23rd of January and it was only £48, just didn't notice it, it was still paid on time and I had £6k on another account in savings, just because I use different accounts, it's hard to track everything. So it's so unfair, will see what appeal comes with, but very unlikely they will overturn decision.

Also it's so cruel to decline after 4 weeks waiting.

Ohh that is so bad!! I hope you win the appeal at that seems very unfair! I’m worried as my statements are not the best and may also have returned DD although I did pay them straight away. The waiting is awful!
I feel like I am going to get declined too. They were really harsh on my affordability aswell, only took in half of my income as my income is classed as complex as it is made up by various different payments.
I really hope things work out for you. 🤞

Did KR give you back most of your fees apart from the admin fee? I’m worried I’m going to loose the whole £860 I’ve had to pay them if I’m refused 😭

No , sadly as per their policy they don’t refund anything. But why did you pay £860? As We only paid £460 I think - admin fee and valuation. Our affordability is very good though and we have stable income ( working in one place for 12 years), also we are not first time buyers, never missed any mortgage payments, so only some silly mistakes, which is nothing major and same as you paid straight after.
hope yours goes all right!

Do u mind telling what additional documents did they ask

I’m tagging @Anzhelka for you in the hope they see the message.

Hope you got a mortgage in the end if you see this Anzhelka.