How long till mortgage decision?

Thrugelmir

ash213 wrote: »

on the application it said something about what day we would like someone to be in contact....is this for soemthing else? my gf said wednesday between 5 and 8pm due to work.

Then they'll probably call then to discuss the application.

Thrugelmir

glasgowdan wrote: »

although technically being assessed on a single 25k income.

What's technically assessed?

Not on the application form. Not liable for the debt.

So the mortgage will be based on a £25k income only.

katejo

rising_from_the_ashes wrote: »

Actually, it is a pretty hefty mortgage for a "single" person (which is what she'll be in the eyes of the lender), however, if she's met their income multiples .....

When did she apply?

In my original comment, I did not know about the additional income of a self employed partner. I was basing my comment on the info available to me at the time. I agree with the above that it is a hefty mortgage for a single person. What would happen to her if you were to split up or one of you were ill/injured?
just because Lloyds may agree to lend you that amount, it doesn't mean that it is a good idea.
My original £68K mortgage is now down to about £53k due to low interest rates/overpayments but together with all my other bills I am still paying half my month's salary on mortgage and bills (not including food). I am still earning under 30k but slightly more than 25K. If i had taken out a 119K mortgage, I would be struggling.