Advice please.....

Mummytobe

Applied for a mortgage in my name, 95% LTV, for £130,000. It got deferred and then declined, main reason being on affordability...i earn £43 and have a few loans, credit cards and then doubted whether ill be able to afford the monthly payments. The reason i didnt add my partner was because i was under the impression he had a CCJ but on returning home from my appointment from applying for a mortgage i received his credit report in the post and there was no CCJ on. Obviously happened seven years ago and therefore no longer included. The guy who made my application spoke to the underwriter and then suggested putting my partner on the mortgage with me as then an extra £1000 a month which he earns will help us to be able to pay the mortgage payments and other credit. What do you think is the likelihood of this application being accepted? Honestly!

I have a baby on the way and really want a house of our own to live in. I will be so disappointed if it gets declined....

_Andy_

If they declined originally on affordability then it should be OK. Having said that, lending criteria at 95% is very tight - i.e. your partner's credit history (aside from the CCJ no longer showing) is going to have to be squeaky clean.

Really though you've just got to wait and see, anything posted on here is just speculation.

TEDDYRUKSPIN

This is a wind up right? Obviously if you only earn £43??? You won't get a mortgage at all. Hmmmm............

Mummytobe

_Andy_ wrote: »

If they declined originally on affordability then it should be OK. Having said that, lending criteria at 95% is very tight - i.e. your partner's credit history (aside from the CCJ no longer showing) is going to have to be squeaky clean.

Really though you've just got to wait and see, anything posted on here is just speculation.

Yeah i know, just thought id ask and see what you all think. You seem to have a lot of advice and experience so thought instead of sat here thinking alsorts ill ask!! Any advice is good whether its what i want to hear or not.

Mummytobe

TEDDYRUKSPIN wrote: »

This is a wind up right? Obviously if you only earn £43??? You won't get a mortgage at all. Hmmmm............

£43 K! :rolleyes:

Mummytobe

any more advice???

JayZed

How much are you paying monthly on these loans, credit cards etc? I suspect that's what's causing the problems, as the salary multiple seems fine.

No harm in adding your partner to the application, as long as his credit record is okay.

Does the lender know you're expecting (and presumably planning to go on maternity leave)? Not sure whether this would have factored into their decision, but one of the advisers on this board might have a view.