The (sh)abbey - are they trying to avoid lending?

darkstar157

hi all,
I applied for a remortgage with the abbey just over 4 weeks ago.All seemed well as the survey was done within three days.On monday my broker called me to say that the application had been declined as because i would like the money to fund another property, i was not seen as a long term customer( the policy has a 3 year tie in with 2% redemption).The property i am lending on is mortgage free and no one has questioned my salary (£30k).Just to ice the cake they said they would reconsider if my circumstances changed to wanting to buy a holiday home:cool:.I'm resigned to losing the house as the vendors are breathing down my neck so may have to switch lenders

SarBear1980

Maybe a question for the mortgage brokers. When I applied for Abbey and went through a monthly budget with them, I had around £1,200 disposable income remaining. I'm borring £176k at 75% LTV but have two buy to let morgages. Do the Abbey have a required amount of disposable income remaining after all expenditure?

I put my application in on the 4th...still haven't heard anything! Will be ringing them on monday as this thread is making me nervous!

whitedan2001

I applied to abbey 9 weeks ago. We got an AIP and the valuation was instructed after a couple of days. We sent in all the required documents and expected a everything to proceed smoothly.

9 weeks later and I am still being told it is in the waiting list at the underwriters. This is for a 65% LTV.

emmahane

we are in the same boat as everyone else with the abbey, told our broker today we were in danger of losing the house and theyve managed to get our case looked at as a matter of urgency, its now booked to be looked at on tuesday, worth a try for everyone else

darkstar157

keep fingers crossed emma, hope all works out for you:o

emmahane

thank you:D