Barclay:Mortgage declined on affordability

shared_ownership

Hi,

I try to apply for mortgage for shared ownership from Barclay last week over the phone and it was declined on clearly on base of affordability(asked for £78,000-43.5% of full price).

Now, I have choose another flat in same building which is affordable to me {checked woolwich intermediaries affordability calculator) and need £60,000(40% of full price).

Should I reapply for mortgage from Barclay as now this house is affordable to me?

I got another issue as well, Two months back, I got two mobile contracts (one for me, one for wife) through carphone warhouse. I just checked my credit report and it says multiple searches and bit worried about it.

(1)carphonewarehouse - two months ago
(2)o2(first contract) - two months ago
(3)orange(second contract) - two months ago
(4)hsbc bank ( my main bank)- credit search - two months ago
(5)barclays - as i was declined on base of affordability - week ago

Is it ok, if I reapply with barclays NOW as I have rectified my affordability?
LAST QUESTION: Should I apply through broker or directly with barclay

samtoby

After personal experience go to a broker than can check it through before applying. Good luck you don't want anymore searches than needs be

getmore4less

what's you exit/move on plan,

You will need imcome increases or capital to make this work long tem.