Abbey refused a Mgage I already have!!

buchos

whitewing wrote: »

I was just wondering if you paid the £9K off your mortgage and left the credit card and then the mortgage got reviewed based on affordability, if that would help?

The debt on that card was incurred in part by my ex and I have agreed to clear it as part of the settlement. There are other financial bits and bobs in the divorce too, but nothing too painful and I'm ready for them. I see where you are coming from, but I must clear that at the same time the mortgage is transferred so cannot touch it.

happybroker

even given this I'm still suprised as Abbey are one of the more generous at lower loan to values like yours.

there are lenders who are more generous and speaking to a quality whole of market broker could well be very usefull to you.

I know the whole situation sucks some what....I deal with them all day every day and there are some very strange decisions being made at the moment by banks.

mrsjanejane

Hi,

I earn 25k gross and I applied to increase my mortgage to 110K with Abbey in October and they turned me down. C&G accepted me on that amount with a 35% deposit. I then asked Abbey again In December 2008 as I did not want to be the redemption penalty. They increased my mortgage from 85k to 110K. I asked why did they accept me now and they said it was to do with the interest rate dropping twice since October and using their affordability calculator I could now afford it. This is just over 4 x my annual income amount. There must be something else wrong as interest rate are lower now and you earn more. I did have a fixed deal though until May 09.