Mortgage denied

Fire_Fox

No idea who any of your posts are aimed at, use the QUOTE button or specify usernames in the text. You may be able to afford the mortgages now but what if you fall ill or get injured and cannot work? Stop whinging and apply to another lender if you are so confident.

Which banks are being bailed out, when and by whom. Not Santander. Why have some banks been bailed out? Lending with too little caution, letting people overstretch themselves financially!! :rotfl: If you have a political point to make this is the wrong board
http://forums.moneysavingexpert.com/forumdisplay.php?f=149

rpc

Wow - stop with the post spam! It makes it really hard to follow.

downwithsantander wrote: »

Well, my point is that in the current climate banks are getting bailed out still and are what started the recession but are inflexible at the time of offering to lend money even though they agree property affordable and credit score good and just as they wonder if I am lying basically

One factor requiring the banks to be bailed out (and Santander received no direct assistance) was that they were too flexible. Now you want that flexibility back.

The risk that you want a property to rent out is as much of a risk to them as you not earning enough to pay. You are clearly in the BTL business and most people do not need two residential mortgages. They will take the view that, with one BTL property with insufficient LTV, there is a more-than-negligible chance that you want to expand your portfolio without paying extra interest and needing more equity. That is an opinion, they are free to have it and your own thoughts on the matter will not change their view on the risk that you present. You already have a fair sum of their money and they may not want to lend more in case the whole house of cards comes tumbling down.

Note that I said you should consult a broker, not a bank. They will know which banks to go to for a better chance.

downwithsantander

Thanks Firefox for pointing out my error in replying to everyone.
Sorry, I have looked at it and it does look quite confusing.
I thought that quick reply would put directly under the person that had given a reply to my post. Must try using quote as you suggest.

Regards