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Britannia underwriters (cause for concern?)
PvyBaldrick
Posts: 11 Forumite
Currently moving house and wanting to take out a Britannia mortgage. (Offers accepted on both old and new houses)
The mortgage got referred to "The Underwriters!". Anything to be concerned about?
Quick headline stats...
25% deposit from equity from the sale of the old property.
Mortgage just in my name with a v.good (spotless & full) credit history.
Earn £33k + £6.5k pa (Car Allowance and on call & a little bit of overtime make up the 6.5k extra)
Mortgage we want of £132k
Lender uses 4.25x income plus 50% of irregular income
£5k in savings
Only downside is I currently have..
£15k in debts (vv low rate life of balance credit cards being used as "loans")
Family, I've got a wife and two (young adult 19+) children. My wife has an iffy credit history.
Currently the wait for the decision is killing us. Should we be worried, should we come up with a backup plan?
The mortgage got referred to "The Underwriters!". Anything to be concerned about?
Quick headline stats...
25% deposit from equity from the sale of the old property.
Mortgage just in my name with a v.good (spotless & full) credit history.
Earn £33k + £6.5k pa (Car Allowance and on call & a little bit of overtime make up the 6.5k extra)
Mortgage we want of £132k
Lender uses 4.25x income plus 50% of irregular income
£5k in savings
Only downside is I currently have..
£15k in debts (vv low rate life of balance credit cards being used as "loans")
Family, I've got a wife and two (young adult 19+) children. My wife has an iffy credit history.
Currently the wait for the decision is killing us. Should we be worried, should we come up with a backup plan?
Private
Baldrick
Baldrick
0
Comments
-
Well it's just come back approved! :j
I'll fetch my coat...Private
Baldrick0
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