Additional borrowing with Halifax

Flower90

My husband and I have applied to borrow an additional £40k on top of our mortgage for home improvements - we already have £17 k saved up. Even with this additional borrowing our LTv is about 60 per cent, we have excellent credit score, no outstanding debts other than the mortgage. I am self employed and my husband is mainly employed with some SE earnings. We used a broker and got an in principle yes, submitted all the docs. Halifax now asking for third year of SA302s for 2011-12 which in my case will show self employed earnings a lot lower than they are now because then I was mainly employed with some SE earnings and now I am fully SE. I am worried about this latest request and have builder on standby but don't want to give green light until I'm sure we can have the additional funds. Any advice? We could lower the amount we want to borrow but don't want to do that before they have said no. If they do say no is there room for manouevres? Thank you!

Thrugelmir

Flower90 wrote: »

If they do say no is there room for manouevres?

You'd need to source the additional funds from another, most likely, more expensive lender.

amnblog

Advice would be to direct your enquiries to your broker and don't stir up unnecessary worry on here.