Debt to income ratio for mortgage approval

Debtslayer

Why not reduce the debt first before applying for a mortgage? And also try and save more deposit so you are in another level of lending (85% instead of 90% for instance)
With your combined salary being quite high I am surprised your level of debt is also so high.

Thrugelmir

bbmack wrote: »

It is quite a high level of debt but we have no issue with repayments, hence the clean credit history.

Even with all the repayments per month we're left with enough to comfortably pay the mortgage.

Lenders will take the view that you ( as a category of borrower) are only one pay cheque away from financial distress. In essence the pessimistic rather than optimistic view. If you've already previously taken out a consolidation loan then rolling the balance again into a mortgage may well be a concern for an underwriter. You may well find doors opening quicker if you start to address your own finances head on.

Thrugelmir

Suggest you read the forum rules before plying your wares. :EasterBun

bbmack

Just a quick update - it all went through in the end with the caveat that the credit cards are paid off on completion

Happy days