written by otHowe50 on 05/08/2014
Applied for mortgage 2 months ago via broker. Have reasonable deposit (>20%) and good jobs. After 1 month they decided after further assessment to drop the lending amount they had initially indicated would be affordable by 20,000 which we could just about cover. Then after a further month have now reassessed, rejected application and can only offer a sum 60,000 less than that which they first indicated would be fine. All this conveniently less than 2 days after taking our money for a survey which I doubt will now be done. Consistently indicated everything should be fine and go through before changing minds at the last minute and leaving us well and truly up the creek without a paddle. Broker has suggested from their experience Coventry struggling with new regulations. Broker cannot contact underwriter directly only a customer service representative so cannot get direct answers from them - avoid like the plague!
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