Sorry! Another anxious mortgage approval post

jimbo2016

Hi All,

First and foremost, I just want to say sorry that this is another anxious mortgage approval thread but I am going out of my mind waiting to see how I get on.

So going back 2 years I met the girl of my dreams, she is amazing! She is driven, funny and everything I wanted. It started off casual, as they do, with no reason to discuss finances.

Go back 12 months and we decide to move in together, I knew the discussion of finances was on the cards, I was really nervous and actually had a weird panic attack about it because although it hadn't come up I had never told her about it. Anyway it all came out and I confessed it all. All my debts on the table..... thankfully being the amazing woman she is she decided to stick with me but on the promise I significantly reduce the debt and show an improvement.

I was earning £30K a year with the following debts.

Overdraft £700
Loan £11600
Loan 2 £3500
Credit card 1 £4500
Credit card 2 £2300
Credit card 3 £4000

Fast forward a year!

OK now a year on the situation looks like the following.

No overdraft
1 loan with 2.5 years to go £12,800 - £440 a month
1 credit card with £1990

We have decided to buy a house! My earnings have now increased to £45K a year and she is earning £17.5k, no debts and self-employed. My credit score is excellent as is hers. No ccjs's, never missed a payment etc.

She has a £20k deposit and the house we want to buy is £200k. We made an offer and were accepted, had our DIP accepted for £180k with nationwide, my payslips approved and the house evaluation is happening tomorrow. We are just waiting for her accountant to send the year end certificate to show her earnings.

I am waiting for someone to come along and burst the bubble and am worried sick with what nationwide will say, what do you guys think the likelihood of us being accepted?

ACG

I don't see a problem personally.

jimbo2016

Thanks ACG. We are really excited and I know you should get excited before you actually exchange keys but we can't help ourselves!

My fingers are crossed.

ACG

I would expect there to be a handful of lenders open to you without too many issues so even if they decline do not worry, get a broker onboard but you should be fine.

swishy87

I think if the debt was an issue it would have been picked up at the affordability point. We've just had an offer with nationwide and only took a week and all went through smoothly. All the debts will have been taken into account at affordability and if calculations show you can borrow enough there's nothing there to prevent it happening really.

jimbo2016

Thanks swishy87. Lets hope so! Its now gone to an adviser who is our main point of contact . I can no longer track the progress online. Is that a good thing?

Thrugelmir

All you can do is wait until due process is completed.