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Extra on mortgage.
Gingernutz_2
Posts: 3 Newbie
Hi, wondered if u could help, desperate.trying to borrow £7000.00 on my mortgage. Have £17000.00 equity on our house. Self employed with income of approx £40,000 per annum. Wife is also self-employed but only in the last three months so has no books as yet. Halifax is classing her as a dependant which she isn't . Basically they are personally saying it should be ok but as the saying goes, computer says no! don't want a loan or credit card etc. any clues??
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Comments
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how much is your current mortgage?
Do you have any other debts?I am a Mortgage AdviserYou 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.0 -
80% maximum LTV for their further lending. If £40k is what you declared to HMRC un 2012 what was it previous as this has massive implications.
If no income us used for yoyr wife then they will reduce their lending based on you keeping her. No room for complaints as unfortunately that's the way it us with little or no provable income.
Unsecured credit it is.0 -
Gingernutz wrote: »Halifax is classing her as a dependant which she isn't .
With no track record of earnings your wife is dependent on you.0
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