first time buyer help

Harlan87

Hey

I have just had an mortgage application declined by HSBC for 88,000 their reason is because i work a 3 week rota and each month my income varies, but my annual income is fixed at 19,000 and they would be worried i would not meet repayments each month on top of cost of living. (which i can)

So they have took my lowest pay check of 1,300 and times that by 12 and said i only earn roughly 16,000 a year even though the pay slips i sent them says i have already earned over 18,000 and classing anything over the 16,000 as over time even though we don't get paid overtime.

Can any one give me any advise how to get around this or recommend and lenders to go to?

Thanks For any help
Alan

amnblog

HSBC don't want your business Harlan - so there is nothing to 'get round'.

Your request lending seems too ambitious for your income and I suggest you get some advice from a competent mortgage broker.

Harlan87

Thanks for the feed back!

i am looking into brokers as we speak, what amount do you think i would be able to lend? as i have had few banks give me AIP of 90,000 after credit checks.

I am looking at mortgages of LTV of 60 - 70% but this is first time i have applied for mortgage application (to be declined and knocked my confidence a bit) and i don't want to loose the house i have put an offer in for