Mortgage Advice

donblako

Just came back declined at 90%, I'll find some specifics tomorrow. Definitely checked that they were happy with being clean for 12 months. Now getting frustrated! Appreciate everyone's help on here.

Thrugelmir

donblako wrote: »

Just came back declined at 90%,

Mainstream lending at 90% LTV is increasingly requiring a squeaky clean credit history.

Lenders are very much looking at reducing risk.

donblako

We are now appealing the Coventry (having been advised to).

Credit check was ok, we failed on a new check they are using relating to debt:income ratio. Their affordability calc said we could have upto 350 on income.

They are though now checking total debt vs income???
We have 12k on cc and o/drafts and 25k on cars (BMW finance).
I can remove the cc and odraft debt and still have the money available but not the car debt.

Some things like my credit limit I understand, but not this one!

How can we be asking 100k less than the affordability limit but fail on debt to earnings!