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Mortgage referral West Bromwich
bigheadxx
Posts: 3,047 Forumite
Hi, I’m looking at buying a second property which I will live in. I’ve got consent to let my current property. I’ve been through mortgage application process with West Bromwich and can borrow well over what I actually intend to. At the end of application I was told that mortgage needed to be referred to underwriter.
I have no credit issues at all. The only issue I can see is that I need a 90% mortgage for this property, however I did emphasise this to the adviser from the start.
Is this likely to be the issue or something I haven’t thought of?
I have no credit issues at all. The only issue I can see is that I need a 90% mortgage for this property, however I did emphasise this to the adviser from the start.
Is this likely to be the issue or something I haven’t thought of?
0
Comments
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Completely at the discretion of the underwriter.
Quite a few lenders have automatic trigger points where if an application is above say 85% then an underwriter would need to fully assess an application, instead of allow the system to make the decision. Sounds like the case here.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 advice0 -
Completely at the discretion of the underwriter.
Quite a few lenders have automatic trigger points where if an application is above say 85% then an underwriter would need to fully assess an application, instead of allow the system to make the decision. Sounds like the case here.
Ok thanks. I’ve been offered 85% from a fifferent lender would need to find an extra £5000 for the deposit tho0
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