Woolwich mortgage

antonyc79

Hi,

Just after some quick opinions on the chances of this being approved with the woolwich for me and my wife.

Deposit 240,000
Purchase price 477,000
Mortgage that will be applied for 237,000
LTV just under 50%
Combimed salary 60k
2 kids but no childcare costs as work shifts so cover it between us.
No loans, one credit card zero balance, no overdraft.

We dont have any defaults or ccj's etc the only thing that concerns me is i have a couple of payday loans which show on call credit report from late 2011 and have heard these can cause problems.

Thanks

Aquamania

antonyc79 wrote: »

Hi,

Just after some quick opinions on the chances of this being approved with the woolwich for me and my wife.

Deposit 240,000
Purchase price 477,000
Mortgage that will be applied for 237,000
LTV just under 50%
Combimed salary 60k
2 kids but no childcare costs as work shifts so cover it between us.
No loans, one credit card zero balance, no overdraft.

We dont have any defaults or ccj's etc the only thing that concerns me is i have a couple of payday loans which show on call credit report from late 2011 and have heard these can cause problems.

Thanks

[STRIKE]
Presumably you are selling a property as well.

How much was the total mortgage on that property, if any?
How long had you owned that property for?
[/STRIKE]

Aquamania

Don't bother, I see you claim to have successfully reclaimed £1000s in PPI payments. As you only pay PPI on credit/store crads if you have an outstanding balance, then that answers what I was trying to get at.

Here you go, read this as a starter
http://www.moneysavingexpert.com/news/mortgages/2014/04/new-mortgage-rules-how-do-they-affect-you

antonyc79

Yes i did claim ppi back which helped clear off existing debts a year ago, thats all spent now, and we only have one card with zero balance which i never really used.

The property we are selling is 270000. I took 20k off for stamp duty + sols etc and there is 10k on an existing woolwich mortgage so leaves 240k for deposit