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FTB-Mistake on application-what happens now?
giselle0201
Posts: 1 Newbie
My partner and I have just submitted our application through a broker following a successful mortgage in principal. However, I was unsure of the meaning of 'variable income' and did not provide the details of a 2nd income totaling £256.00 after tax during the last tax year. Will this mean our mortgage application is declined? Will we be able to reapply straightaway as I hear that this can be a problem? Can we cancel the application and submit again? Please help, very worried.
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Comments
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Hi Giselle
It depends largely on how much you are relying on that extra bit of income in terms of affordability of the mortgage, its only a small amount but you'd best check with your broker.I am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
This is not a problem and won't harm your application. Talk to your broker tomorrow and let them clear it up.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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