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  • FIRST POST
    • bigheadxx
    • By bigheadxx 6th Jan 18, 1:45 PM
    • 2,989Posts
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    bigheadxx
    Mortgage referral West Bromwich
    • #1
    • 6th Jan 18, 1:45 PM
    Mortgage referral West Bromwich 6th Jan 18 at 1:45 PM
    Hi, Iím looking at buying a second property which I will live in. Iíve got consent to let my current property. Iíve been through mortgage application process with West Bromwich and can borrow well over what I actually intend to. At the end of application I was told that mortgage needed to be referred to underwriter.

    I have no credit issues at all. The only issue I can see is that I need a 90% mortgage for this property, however I did emphasise this to the adviser from the start.

    Is this likely to be the issue or something I havenít thought of?
Page 1
    • YHM
    • By YHM 6th Jan 18, 4:02 PM
    • 427 Posts
    • 147 Thanks
    YHM
    • #2
    • 6th Jan 18, 4:02 PM
    • #2
    • 6th Jan 18, 4:02 PM
    Completely at the discretion of the underwriter.

    Quite a few lenders have automatic trigger points where if an application is above say 85% then an underwriter would need to fully assess an application, instead of allow the system to make the decision. Sounds like the case here.
    I am a Mortgage Broker.

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice
    • bigheadxx
    • By bigheadxx 6th Jan 18, 5:00 PM
    • 2,989 Posts
    • 2,860 Thanks
    bigheadxx
    • #3
    • 6th Jan 18, 5:00 PM
    • #3
    • 6th Jan 18, 5:00 PM
    Completely at the discretion of the underwriter.

    Quite a few lenders have automatic trigger points where if an application is above say 85% then an underwriter would need to fully assess an application, instead of allow the system to make the decision. Sounds like the case here.
    Originally posted by YHM
    Ok thanks. Iíve been offered 85% from a fifferent lender would need to find an extra £5000 for the deposit tho
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