Changes to Affordability using ONS (Santander)

Katiescarlett

Soooo fed up!
We are in process of trying to buy a shared ownership property. We have put offer in, had an agreement in principle from santander after our 1st meeting. (We were told that you now have to have it in 2 parts since April this year!)
We had to cancel 2nd meeting that was scheduled for 22nd July due to not having memorandum of sale from housing association. We were able to reschedule for 30th July once we had received it. Unfortunately changes had been made from 25th July where new figures came out from the Office of National Statistics. When we completed the mortagage application we got....Declined. Due to affordability as the ONS figure had risen by over £300.
We were all in shock, even our mortgage advisor. ;-(
Anyway it has gone to appeal, it passed 1st stage saying it could go to 2nd stage (final stage) does anybody have experience of this?
Any idea on timescale? Any idea whether we have a chance?!
Hate this being in limbo. I just want an answer even if it's no. Just to stop being in limbo land and get on with things. Sorry for long post, any help greatly received.

Funny_old_game

If your happy with a no, why did you appeal?

The Santander system gets updated to reflect spending in the UK. If you were close to the maximum lending before you may find the figures crunched more. Stay calm as it usually works out ok it just means you have a weekend to get through thinking if it's been turfed or not.

Katiescarlett

Not saying I am happy with a no! Just want answer yes or no. Not an indecision.
The ONS figures are much higher than we spend. Our total outgoings will rise by £20 a month between renting and buying. So No we were nowhere near our higher limit. An increase of nearly £350 a month spending seems rather unrealistic as a national average surely? What happened over the weekend to suddenly change that?! ;-)