Santander disregarding shift allowance in their calculation? Any advice?



  • Fiesto88Fiesto88 Forumite
    137 Posts
    Third Anniversary 100 Posts Combo Breaker
    Going on what's been said and Santander's own lending criteria, it looks as though it might be a simple case of the broker contacting the underwriter directly to discuss and make them see they're looking at it wrong. Push for this.

    If you do have to consider repaying the loan to make it work for Santander (and you do want to go down that path as opposed finding another lender) make sure the broker confirms 100% that this will address the affordability issue and find out if they want confirmation this has been done now or further down the line. I've seen horrible examples of people repaying debts on misguided information and still failing affordability after it's done - so just make sure it's definitely a workable solution and a solution that you're happy with.
  • haras_nosirrahharas_nosirrah Forumite
    2.2K Posts
    All current credit commitments must be included when assessing affordability, irrespective of whether they are being repaid.

    As per above copied from their criteria they will count your loan within your expenditure regardless of whether you are going to repay it or not. They go off your credit report so will only ignore it if your credit report shows it has been cleared.

    Go for the shift allowance - they should accept it if it is the same every month as 100% income.
    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.
  • Z-dawgZ-dawg Forumite
    8 Posts
    Thank you guys! You have all been very helpful and knowledgable! I really-really appreciate your advice! I will ask him tomorrow address this with the underwriters! I have years and years worth of payslips to back this up. It is a definite permanent shift allowance! Thanks again, I'll update this thread with the outcome soon! Have a nice night, guys ;)

    Big Z :)
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