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Affordability check flexibility?
AceCobra
Posts: 251 Forumite
Hello folks,
My Partner and I currently have an outstanding mortgage amount of around 115k. We are now interested in a new property which would mean a total mortgage of around £165k. Having used Nationwide checker it states we could borrow up to 157k. Are lenders generally flexible with this figure or is it set in stone? We are currently 13 months into a 2 year deal with the Nationwide and with our overpayments we actually exceed what would be the new payment. Will they take this into account?
Advice appreciated.
Martin
My Partner and I currently have an outstanding mortgage amount of around 115k. We are now interested in a new property which would mean a total mortgage of around £165k. Having used Nationwide checker it states we could borrow up to 157k. Are lenders generally flexible with this figure or is it set in stone? We are currently 13 months into a 2 year deal with the Nationwide and with our overpayments we actually exceed what would be the new payment. Will they take this into account?
Advice appreciated.
Martin
0
Comments
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Lenders will look at the whole situation. If you have been a client for 2 years, always on time and even making overpayments I'm sure this would be taken into account and I would hope they would lend the extra feww £000's.
Give them a call and ask them!I am a Mortgage Adviser
You 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 -
Cheers,
I rang the help line and they confirmed the online checker is a guide. If we speak to an advisor in branch they can be more flexible.
Martin.0
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