We hear people are earning one figure but once their accountant has had a go at the figures the income is a lot lower… Your accountant is doing a good job for your tax but not so good for your mortgage application. Self employed people are generally terrible with their income (sorry guys, but you are). However it could be that the lender is still picking it up as the credit report has not yet updated. It could be that you cleared a credit card recently and then did not put it on the AIP as you no longer have it. There are 2 major types of mistakes we see which result in declined applications. If it is below their requirement, then it is easy to see why the application was declined. The full application may then ask how long you have been in your job. This could be a number of things, a nice simple example could be that the AIP asked how much your income is. When the full application goes in there could be something in there which was not picked up. ![]() Many only involve a soft footprint credit check and only ask a limited number of questions. ![]() ![]() Reasons for declined applicationĪn agreement in principle (aip) is exactly that, “in principle”. I thought for this post we could have a look at your agreement in principle might be approved but then application is declined and what you (or we) can do to help. We speak to a lot of people who have applied for and obtained a mortgage agreement in principle and then subsequently had their mortgage application declined.
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