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why have abbey only gave me...
donnacraig1984
Posts: 137 Forumite
When i applied for a mortgage i got a mortgage in principal and MB (family member) told me i would get £75000 for the house i wanted or a little more if i saw any others. So done full application gave them P60 and 9 weeks of payslips 2months of bank statements, they have turned round a said £63000 is my wack. I earn £23000 pa. I have no debt. Dont earn much i know. Have they possibly taken into account i pay 150 per month into a credit union, and my sky subscription, hence why i cant get what i want? . MB has said they are only giving me 3 X 23000 which does'nt = 63. Could i appeal? or should i go else where?
Craig
Craig
0
Comments
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£73K / £23k = 3.17
£63K / £23k = 2.74
Who is the lender?
EDIT - sorry, I see the lender name is in the thread title ABBEY"You were only supposed to blow the bl**dy doors off!!"0 -
Abbey will offer differing maximum amounts depending upon credit score.
Ask the broker to go back to Abbey and speak to them. May be able to get an underwriter to reconsider.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
What's the value of the house you are looking to buy and what deposit do you have?
Just wondering if they could be limiting factors.0 -
i have £13000, for fees and deposit, house is £75000. I have asked him to appeal, he said that banks are'nt lending and i am doing well to get a £63000 mortgage. Started looking else where, but my heart really is'nt in the other houses i'v seen.
Craig0 -
...is the name of the game nowadays. They should have asked you to complete an income and expenditure list, to demonstrate you can meet the commitment. You could ask them what's wrong with that; otherwise shop around. But it won't be easy in the current climate, espcially if you haven't much by way of deposit, i.e. the Loan to Value (LTV) is high.
And if you do shop around, phone first: you'll need to make an appointment to speak to a mortgage specialist on the High Street - gone are the days of walking in and immediately speaking to someone knowledgable!0 -
Is the 23K/pa what you take home after tax/NI?Mortgage Aug 12 £165K, Aug 19 £0
ISA challenge start 2019 £3000/£1500 (50%)0 -
Do you have any debts?0
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How's your credit file? Any problems in the last 6 years?0
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maninthestreet wrote: »OP has already stated they have no debt.
You're right, I missed that. I find it difficult to read blocks of text.0
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