Myself and my partner recently had a mortgage approved by our bank, we have borrowed under the amount we require because of the deposit we have managed to put together.
When it came down to the last few details the underwriter of the mortgage has declined it because I am a "high risk lender".
Can't understand this as my credit score is good (my partners is excellent) and we have a minimal amount of debt between us which we have never missed a payment on. I have checked both of our credit reports and there are no negative indicators on there.
The mortgage advisor was distraught for us because she can't understand herself why the mortgage was declined. She gave us a certificate showing we could have a mortgage so we could start putting in offers on houses.
Is there anything we can do to appeal and is it worth going through another bank to see if it will be approved elsewhere?
We have 20 days to get a mortgage or the house we want will go back on the market!
Any advice or help would be amazing!
When it came down to the last few details the underwriter of the mortgage has declined it because I am a "high risk lender".
Can't understand this as my credit score is good (my partners is excellent) and we have a minimal amount of debt between us which we have never missed a payment on. I have checked both of our credit reports and there are no negative indicators on there.
The mortgage advisor was distraught for us because she can't understand herself why the mortgage was declined. She gave us a certificate showing we could have a mortgage so we could start putting in offers on houses.
Is there anything we can do to appeal and is it worth going through another bank to see if it will be approved elsewhere?
We have 20 days to get a mortgage or the house we want will go back on the market!
Any advice or help would be amazing!