abbey mortgage

QUEENB

my husband and i are currantly trying to get a mortgage with abbey, we've had a offer in princable. We gave them 06-07&08 accounts for my husband as he is self-employed, i am a housewife. Now the underwriters are asking for 09 accounts.
As you can imagine in the currant climate 09 accounts aren't great:
07= 28k
08= 29k
09= 17k
I'm now worried that the decline in profits will cause a problem.
We want a mortgage for 126500 with 25% deposit leaving us 94875 borrowed.

vicshippers

What are you asking sorry?

I think you're right to presume that the underwriters won't like the drop in profits for 09...no-one will be able to tell you what they will decide though - it's a 'wait and see' job unfortunately. Fingers crossed here for you!

Thrugelmir

QUEENB wrote: »

I'm now worried that the decline in profits will cause a problem.
We want a mortgage for 126500 with 25% deposit leaving us 94875 borrowed.

You need to ask yourselves whether you can really afford a mortgage at the moment, on this level of income.

vicshippers

Thrugelmir wrote: »

You need to ask yourselves whether you can really afford a mortgage at the moment, on this level of income.

Especially when really - it's only going to get even more expensive when the interest rate finally does go back up.