So my partner and I have probably had some dubious advice. We began to look for a property to buy last year and went to see a mortgage advisor who told us that in principle we could borrow up to 190k (we have 10% deposit, and earn 32.5k and 25k), but that it was not worth putting in an application until we had found somewhere to buy as mortgage offers have a time limit.
We found a place recently (need to borrow 170k ish), went through a broker (free), sent all the paper work off, and within 3 days were declined with no right to appeal. Our deposit is in my partners parents name- it came from his last property sale 18 months ago- he gave it to them for safe keeping- has a penchant for fast cars!! Our broker advised us to tell the lender that the deposit was a "gift" and as such drafted a letter.
Reasons given for mortgage refusal
1) Deposit is a "gift" no evidence of saving (this utterly baffles me)
2) My current account is overdrawn (1k)- despite me providing statements from my savings account which contains approx £6k - so if I had just dumped all that money into my current account at christmas they would be none the wiser !!
3) My partner has several bank accounts (2 were actually thought to have been closed by his EX- was not until he asked for statements that it came to light this was not the case!! we are unaware if they have any adverse things on them)
My experian credit score is 999, perfect history. My partners is currently unknown, he is waiting for a pin number.
So question is what to do now- desperately do not want to loose the place we have found but as we have no recourse with Nationwide cant show them we can easily rectify the issues!!
HELP :(:(:(:(:(
ETS we are 35 and 40 years old, he has had a mortgage before i have not. We also have between us plenty of cash to pay stamp duty, deposit, fees, do a place up - in the region of 32k..... dont know if that makes a difference!
We found a place recently (need to borrow 170k ish), went through a broker (free), sent all the paper work off, and within 3 days were declined with no right to appeal. Our deposit is in my partners parents name- it came from his last property sale 18 months ago- he gave it to them for safe keeping- has a penchant for fast cars!! Our broker advised us to tell the lender that the deposit was a "gift" and as such drafted a letter.
Reasons given for mortgage refusal
1) Deposit is a "gift" no evidence of saving (this utterly baffles me)
2) My current account is overdrawn (1k)- despite me providing statements from my savings account which contains approx £6k - so if I had just dumped all that money into my current account at christmas they would be none the wiser !!
3) My partner has several bank accounts (2 were actually thought to have been closed by his EX- was not until he asked for statements that it came to light this was not the case!! we are unaware if they have any adverse things on them)
My experian credit score is 999, perfect history. My partners is currently unknown, he is waiting for a pin number.
So question is what to do now- desperately do not want to loose the place we have found but as we have no recourse with Nationwide cant show them we can easily rectify the issues!!
HELP :(:(:(:(:(
ETS we are 35 and 40 years old, he has had a mortgage before i have not. We also have between us plenty of cash to pay stamp duty, deposit, fees, do a place up - in the region of 32k..... dont know if that makes a difference!