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Underwriter decision - is it reasonable?
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Thanks Thrugelmir,
I don't think he knew he could increase the payments. The debt is from his previous relationship about 8-10 years ago and she is not contributing towards the repayment so he was just going along with paying the small amounts which have less impact on his outgoings.
The major issue then is how much is still owed.
The issue for lenders is that if they did advance further monies to your partner. The original creditors could step in and secure, or at the very worst recover their debt from his share of the equity in the property. Their claim would preceed that of the mortgage lender.0
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