Hard to believe but my mortgage application was declined.

Wh05apk

If you are not prepared to add your husband (??) then you have to accept Woolwich will not use his income, they will treat him as being financially dependent on you, and will take off all commitments, hence why they will only lend £80k.

You need to decide if you want to keep the mortgage in your name, and pay a large penalty or consider adding him, and staying with Woolwich.

Thrugelmir

toja wrote: »

He is happy as it is and involving him is not an option.

This is not the point though.

Lenders set the rules. For them it is.

Ball is therefore in your court.

ACG

So your making an application solely on your income and you have £900 in child care costs... not surprising its failing on affordability.

Unless the £900 is court ordered or CSA ordered then no high street lender is going to take this into account off the top of my head. Effectively you want what he pays you taken into account but not his credit report - it doesnt work like that.

tutington_2

@ACG: actually Halifax does take into account child maintenance if you can prove it's been paid regularly (can't remember now whether it's 3 months or 6 months history of payments). However, they only take into account 60% of any secondary income, including child maintenance, child benefit, tax credits, regular bonuses, etc.

In this particular case though, because they're a couple, not sure if that can be counted as 'child maintenance'.

toja

So when my husband was unemployed and looked after our kids I was able to take out the mortgage even if we were worse off than when he is working and contributes to the household income? I don't get this bit. Theoretically I should get mortgage approval if we quits his job and our childcare goes to Nil... It does not make sense...

ACG

Things have changed and gone to more sensible lending processes rather than how it was, which was anyone can have a mortgage.

whitewing

1. On what date are you out of ES penalties?

2. Could you recoup the ES penalty by offering lower on the new house and go for a different provider?

3. Why are you wanting to move house now?

toja

Things may have changed but according to this forum I would also have a better chance if I got divorced and my husband's contribution came through a court order, is that right?

I have a feeling that my bank took into account the total childcare cost of £950 and then £243 of childcare vouchers as they have never asked for my gross salary. As of today my gross salary increased to 37k (40k incl.bonus) and if I cannot get 135k mortgage with 40% deposit I think I will be truly upset.

toja

Whitewing we are unlikely to get a discount on our offer. 12 months remain until my fixed deal ends, afterwards lifetracker of BoE rate + 1.49% which I'd rather not lose. I'd rather stay put for several years until both kids are in school, and overpay my mortgage like mad so there is a better chance for getting mortgage approval.

(still think that mortgage providers should grab me as a desirable customer but this is obviously not the case!)

whitewing

I'm still unclear if you actually spoke to someone at Woolwich or just plugged figures in yourself?

It may be worth speaking to someone?