Docs for a full mortgage application - Just 1 payslip?

The_Palmist

sounds quite incompetent of them. I am guessing they never sent you a copy of valuation ? Can you get valuation money back if you decide to move to a different lender.

kingstreet

Ms_Sophia wrote: »

affordability test they did based on the salary of 1 applicant only, totally ignoring the salary of a 2nd applicant...:eek:

Any idea why? Any explanation?

Ms_Sophia

The_Palmist wrote: »

sounds quite incompetent of them. I am guessing they never sent you a copy of valuation ? Can you get valuation money back if you decide to move to a different lender.

They say I cannot. I've talked to them about withdrawing my application and they said they'd refund me other fees I'd paid (booking fee & product fee) but not valuation fee because the valuation was conducted already.

Ms_Sophia

kingstreet wrote: »

Any idea why? Any explanation?

Because they are incompetent, that's the only reason.

they didn't explicitly say to me "we only took your salary into account that's why we can't give you more". They said "based on affordability we can give you only £233k for 20 years (mortgage term we'd asked for). But we can give you £240k you need but for 22 years".

I was just so tired of their tricks and lies so I said "fine. Give me 240 for 22 years, just send me a fricking mortgage offer".

But then when I checked on their website their mortgage calculator, then it became clear that they'd come up with 233 for 20 yrs based on only 1 salary. And if you input 240, then it gives you 22yrs with this 1 salary. If both salaries were taken into account, we could have gotten the required amount for mortgage term 12 yrs! - according to their calculator.

I'm gonna call them tomorrow to double-check on when they are sending the offer to me. If they try to play some other tricks to me again, I'm gonna seriously consider some formal action...

ruggedtoast

If you go onto your web account does it list income as being verified for both borrowers?

Ms_Sophia

ruggedtoast wrote: »

If you go onto your web account does it list income as being verified for both borrowers?

that's the thing! we applied as joint applicants and mentioned both salaries. BUT! they then asked to send them just 1 payslip of mine (see start of the thread) and didn't ask for any payslip from my husband. So we thought we should send them only what they'd asked us...
As it turns out we should have sent them everything, regardless what they asked or didn't ask us to send...

kingstreet

Is there anything odd about your husband's employment? Is it contract, temporary or something similar?

Is it possible you accidentally changed a dropdown option when you were keying the application so they've excluded it for some reason?

Ms_Sophia

I wish there was a reason for this. My husband is in a permanent salaried employment. They acknowledge in their online mortgage tracker that there are 2 applicants, and they gave us an AIP for 255k for 20 yrs - which they only could have done if they acknowledged a salary of my husband.

So... no reasonable explanation really...

ruggedtoast

Both your names should be clearly on the web account. Sounds like someones messed up the data entry.

Ms_Sophia

ruggedtoast wrote: »

Both your names should be clearly on the web account. Sounds like someones messed up the data entry.

both names are on the web account. but still we got this issue.