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Mortgage application process
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I'm in similar position
Needing to increase borrowing on a house move, but bank statements taken a hit ie all income gone out as wife is at end of maternity with no income from her but she will be starting up work again0 -
There are lenders which will accept her pre-maternity income if she provides a letter confirming she is returning to work and the return date.advice_please wrote: »I'm in similar position
Needing to increase borrowing on a house move, but bank statements taken a hit ie all income gone out as wife is at end of maternity with no income from her but she will be starting up work again
Carry out some research, or contact an independent or whole market broker.
Is there anything else of concern? Loan to value? Credit history?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
We are currently going through the mortgage application process and finding it an absolute nightmare! Completely different to last time. They have gone through our bank statements with a fine tooth comb- even querying CREDITS!! They've asked for our bank statements to be stamped in branch (first direct so we have to send them off), employee references for my husband ( despite him having 10 yrs payslips/p60 with the same employer) and have moved the goal
Posts several times with what they need from me. (self employed).
Just be prepared as we didn't think that the process would be this indepth and complicated.MANAGED TO CLEAR A 3K OVERDRAFT IN ONE FRUGAL, SUPER CHARGED MONEY EARNING MONTH!:j
£10 a day challenge Aug £408.50, Sept £90
Weekly.
155/200
"It's not always rainbows and butterflies, It's compromise that moves us along."0
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