post office mortgage help

mummyemma

Hi

Just wanted to see if any people on here have recently gone through a mortgage with post office and have they run into any problems.

Bit of background Abbey turned us down at 90% but agreed at 80%. I then put a AIP with post office which has been agreed at 90%. I realise that this will have to go to an underwritter but am worried we will find a house and then get mortgage turned down

thanks
Emma

GMS

Why did Abbey reduce to 80%? Was it down to you or the property?

mummyemma

Down to us I think, our broker approached them for us for an AIP they said not at 90% but yes at 80%

GMS

Was the property a new build? If so was it a flat or house? Are you first time buyers?

mummyemma

Not a new build and no not first time buyers but havent had a mortgage for last 4 years.

Just to say we havent yet found a house we wanted to make sure we could get a mortgage before we started looking hence getting a AIP

Thrugelmir

mummyemma wrote: »

Down to us I think, our broker approached them for us for an AIP they said not at 90% but yes at 80%

Then you need to ascertain why. As the same factors could impact the decisions made by other lenders.

The alternative is of course to purchase a lower value property and borrow less .