Mortgage declined by Underwriters - GUTTED!

kingstreet

Spot on BQ.

NatWest doesn't lend on shared ownership.

Malmo

If Shared Ownership, then Natwest will not lend as per their lending criteria - see under heading Properties we will not consider

http://intermediary.natwest.com/home-options.asp?page=HOME/LENDING-CRITERIA/UNUSUAL-PROPERTIES

amnblog

I don't know where you are finding these mortgage advisers Sharon but it is a shame as they seem to be making us all look like idiots.


I assure you that there are plenty of us who do know what we are doing. Don't give up yet.

sharonfrancis

oh well I truly screwed then!

Tried a couple of the brokers on unbiased.. didnt really seem keen to help given the amount of declines I had....
so I have given up hope now..

libf

sharonfrancis wrote: »

oh well I truly screwed then!

Tried a couple of the brokers on unbiased.. didnt really seem keen to help given the amount of declines I had....
so I have given up hope now..

No friends/family/colleagues who can give you a recommendation?

KRB2725

Or you could always PM one of the brokers on this thread....

jacobtheamish

I'll imagine that you have childcare costs? Would you parents be able to take on that responsibility for you, thereby reducing that commitment. You would need to evidence any reduction in costs to leeds, usually by means of a letter from the nursery or new bank statements showing no or lower payments.

Otherwise there are a few Building Societies that take common sense approach to lending, particularly Shared Ownership. You are shooting yourself in the foot with an EA broker, typically its their first job in the industry and little experience.

There are two brokers commenting on this thread that based on other threads I have read, have extensive knowledge so may be worth pm'ing.
Good luck

Dird

jacobtheamish wrote: »

I'll imagine that you have childcare costs? Would you parents be able to take on that responsibility for you, thereby reducing that commitment.

Assuming the grandparents would be willing to pay for their grandkids, would most banks agree to this?
YBS just went off ONS values for deciding affordability & based it on me paying all bills myself (despite me saying my mom will be splitting utility bills with me). Or are they rare in this approach? When I did a HSBC AIP they actually factored in my costs rather than the ONS

jacobtheamish

If you childcare costs can be reduced, then Leeds will accept providing you can evidence it. Not sure on parents taking over the costs though, I was assuming parents might be retired and happy with childminding etc.

Some lenders will use ONS stats, some don't. Can work in your favour as the ONS seems to suggest better affordability the more children you have.

You should seek the advice of a broker at this stage

Dird

jacobtheamish wrote: »

Can work in your favour as the ONS seems to suggest better affordability the more children you have.

You should seek the advice of a broker at this stage

Not if you have 0 kids though :P They agreed, it just meant having a longer official mortgage term than planned