mortgage declined - Devastated

Spudwud

Since the FSA regulation came in to play, prime lenders do not look as closely at the LTV as they do the servicability. This is to cover their own backs, certainly now with the TCF came in, as by concentrating on the LTV they are covering their own backs, but by looking at the servicability as well, they are also covering your own.

Basically if the affordability stacks up and your personal credit is clean, there is no reason I can think of why you'd be knocked back.

Pumpkin_Pie_5

Well I seem to have got through the first round!:T

I now have to fill in a supplementary form and send off my driving license and 2 forms of address id... No pay slips yet which is odd, no? I am sending it all special delivery to make sure it gets there.

Apparently the Woolwich can decline me at any time - But surely once they have done the search (which they have), if they were going to decline me on that, they would have already?

With regards to servicability - I am only asking for 2 X my salary and the payments are less than the rent I pay now.....

Addiscomber

Given the postal strike(s), why not ask if you can take your documents into a branch (presumably now any Barclays branch?) for them to copy and verify and pass on through their internal post. We were able to do that with Woolwich in January when there was no strike to worry about.

Leon_W

Correct Addiscomber.

Any Woolwich application can go through their internal mail system. Take any documents for Woolwich into any Barclays Bank branch and they will send it on for you. Make sure they put the correct Mail Van Code on any post. I'm sure they'll help you out with the right one.

Edit : Try this. But Beware, sometimes Barclays internal mail is as bad as Royal Mail !

FAO.
Mortgage Loan Services,
Open Sort & Distribute,
Leicester,
Leicestershire,
LE87 2BB.

Mailvan Code 113