Hi,
Im new here and looking for some advice. We are selling our house and they have signed contracts today. We were due to sign contracts on new house next week, and had been told by bank that we have current mortgage with that we had approval - however this was verbally over the phone. I knew something was wrong when they came back to me early this week looking for more statements....and they took until today to tell me that it was actually declined. I asked for the reasons why, but you have to write in and request it, for which i dont have time as I dont want to lose this house.
I have arranged a meeting with a broker for Monday - but im really stressed as this last bank now have all our statements etc. We are really under pressure to sign these contracts and I desperately want this house. We have no loans as we cleared them all in July. Our statements arent great, but nothing serious or anything. We were only looking for an extra 25k onto our current mortgage.
My main worry is...now that we've been refused by one bank...will that sit on our credit rating forever and have we no hope of getting any mortgage now?
Im new here and looking for some advice. We are selling our house and they have signed contracts today. We were due to sign contracts on new house next week, and had been told by bank that we have current mortgage with that we had approval - however this was verbally over the phone. I knew something was wrong when they came back to me early this week looking for more statements....and they took until today to tell me that it was actually declined. I asked for the reasons why, but you have to write in and request it, for which i dont have time as I dont want to lose this house.
I have arranged a meeting with a broker for Monday - but im really stressed as this last bank now have all our statements etc. We are really under pressure to sign these contracts and I desperately want this house. We have no loans as we cleared them all in July. Our statements arent great, but nothing serious or anything. We were only looking for an extra 25k onto our current mortgage.
My main worry is...now that we've been refused by one bank...will that sit on our credit rating forever and have we no hope of getting any mortgage now?