Help! mortgage application now refused!

ladymarm

so despite mortgage being in both our names i could search for a new mortgage deal in my name alone and change mortgage into sole mortgage in my name in dec at the time I changes deals? Am i understanding that correctly?

kingstreet

ladymarm wrote: »

so despite mortgage being in both our names i could search for a new mortgage deal in my name alone and change mortgage into sole mortgage in my name in dec at the time I changes deals? Am i understanding that correctly?

Yes. As long as the remortgage does not complete until after the ERC expires you'll be fine.

You apply for a mortgage in your sole name and during the process the solicitor carries out a transfer of equity to remove your former partner from the deeds. This will be chargeable.

ladymarm

Thanks for your help today, has been rather stressful.

Have rung a few mortgage providers to test water over whether they would let me mortgage with them on my wage (not credit checked just basic questions). So Santander 9current provider said they would only want me to have a mortgage of approx £50k, P.Officw would lend approx £84k, Woolwich wouldn't consider me (have banked with barclays for 20 years!) and Halifax said lend approx £114k max.

All these figures done on basic wage, didn't give them tax credit figures as they are variable and dont want to rely on them.

Shocked at the difference! Is there anything i need to know about halifax?! Why are they so much more generous than Santander?

Thrugelmir

Would your ex be happy to remain on the mortgage but not on title deeds to the property?

ladymarm

Must admit dont know-all implications of that but would guess no. Both of us would- favour break from shared financial ties. I an more hopeful now that this is possible.

harvey115

ladymarm - to be honest with you I was doing something similar as well, when I was planning for a mortgage start of this year.

I quickly found out that I would not be a correct customer to go direct unless the branch adviser is really good with mortgages. Halifax and Nationwide advisers are tend to be a bit better then other providers due to their prime market being mortgage lending.

I think you need to contact a good broker and the stress will be gone. I am sure you can get a solution on your situation. You will be amazed to see the banks that have said no to you directly would come back with a yes when a broker represents you especially the types of Halifax and Barclays.

Try https://www.unbiased.co.uk

Best of luck.

ladymarm

Thanks for your help. I have Which? membership and found a mortgage helpline through them. They have arranged a mortgage in principle for me for the full £95k. planned to do it direct with halifax but Which? warned me that my childcare vouchers of £243 pm (taken out of gross salary) may severely affect my borrowing potential and he did it online for me and i was accepted with no questions about ch vouchers. Really nervous now that I'll get turned down at the last minute but broker says dont mention vouchers unless Halifax ask directly...sigh!

GMS

ladymarm wrote: »

Thanks for your help. I have Which? membership and found a mortgage helpline through them. They have arranged a mortgage in principle for me for the full £95k. planned to do it direct with halifax but Which? warned me that my childcare vouchers of £243 pm (taken out of gross salary) may severely affect my borrowing potential and he did it online for me and i was accepted with no questions about ch vouchers. Really nervous now that I'll get turned down at the last minute but broker says dont mention vouchers unless Halifax ask directly...sigh!

Which? the consumer champions are submitting an application on your behalf which fails to disclose a material fact and they tell you to lie about your expenditure.

Words fail me. Good to see your monthly fee is going to good use.

Wh05apk

GMS wrote: »

Which? the consumer champions are submitting an application on your behalf which fails to disclose a material fact and they tell you to lie about your expenditure.

Words fail me. Good to see your monthly fee is going to good use.

And no doubt they will help you claim compensation for being complicit in submitting a fraudulent application as well...................

Unbelievable, or not really, like some forums they seem to have sold out to the lure of money!

Thrugelmir

GMS wrote: »

Which? the consumer champions are submitting an application on your behalf which fails to disclose a material fact and they tell you to lie about your expenditure.

Words fail me. Good to see your monthly fee is going to good use.

Consumer Champions or Consumer Crooks ?