Refused a mortgage

ethank

I would never go with an Estate Agency broker ever. I sold my house with one recently, who said come in and see we have some excellent deals with XXXXXXX Building Society.

I said yes, that is probably because they own you!

To be honest, I want my broker working for me.... Not for my Estate Agent!

Pont

Forgot to add earlier - I'm with the advice above - I would also NEVER use an Estate Agent broker.

macman

Is the 15K gross or net?

kingstreet

Assuming that's a gross annual income, all basic, the Halifax affordability calculator output is £36,380 over 30 years for a single applicant with no dependents and a £200 per month credit commitment.

So, there's the reason for the Halifax decline and TBH it should not have been put to them in the first place, if I can figure that out with a two minute check on basic information.

The Abbey/Santander calculator gives a low score output of £32,000, medium/high of £43,000, making several assumptions on monthly outgoings on living expenses.

I don't know how she got a maximum indication of £52,000 if the credit commitment was correctly input in the first place.

I feel the declines have come for affordability reasons and the lack of explanation is down to a poor advisor who has placed this with lenders never likely to consider it, due to either limited panel, or limited experience.

Is the estate agency a member of a national chain and if it is, does it offer whole market mortgage advice, or only a limited panel?