Please Help

wolvesfc999999

Hi there – don’t shoot me down

Just had a rejection from the post office.

We wanted to borrow 153k on a house that’s worth 170k as we have an offer accepted on a house. Me and my partner have combined earnings of 70k. Unfortunately we both have outstanding debts. Me 11k Loan and my partner 15k loans (£550 a month combined) both for cars. The other thing is we have been over the last 3 months in our overdraft. Never exceeded it though.

We passed the credit ratings check ok but they told us they weren’t prepared to take the risk on us because of our loan to earnings ration. We have never been in any arrears or anything like that.

I feel really deflated now and don’t know what to do about it

GMS

Don't take it personally. You applied to one of the pickiest lenders out there.

Could well be options for you. A broker may be worth a chat. Not all lenders are as picky.

wolvesfc999999

I figured that. they annoying thing was is that we got quite far with them and its taken over a week to get a response from them.

I have approached a broker with a meeting on monday.

I dont think we are far away. Should a decent broker help?