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Cant be right mortgage refusal
Charliemarlie
Posts: 11 Forumite
House value 275
90k deposit
50k employed salary same company last 7 years
Married
1 10k loan
No other outgoings company car phone fully expensed etc
Ltv 62%
Need Mortgage 185
Credit history glowing
Max loan offer 162!
90k deposit
50k employed salary same company last 7 years
Married
1 10k loan
No other outgoings company car phone fully expensed etc
Ltv 62%
Need Mortgage 185
Credit history glowing
Max loan offer 162!
0
Comments
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Which lender? 162k is 3.25x your salary so that does seem like it should be OK in terms of affordability regulations. This doesn't take into account your loan repayments - how big are they?
Do you and your spouse both have glowing credit histories?
BTW LTV you are requesting is 67%.0 -
HSBC
Banked with them since 87
Wages paid in there
Sole application.
My bad on love0 -
There’s your answer! HSBC are notoriously tricky.
Try using a broker or another lender.0 -
Sole application and married can be an issue for a number of lenders.
I have got cases approved in these circumstances but I would definately say speak to a broker on this oneI 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 -
The monthly loan payment amount is far more relevant than the outstanding balance. The payment affects affordability.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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We are in a similar situation. We've gone with a broker who are currently dealing with HSBC for us. The lady in branch was very much computer says no, no explanation/idea etc.
The broker is calling HSBC with specifics to see what we need to do to get everything agreed. We're getting better information anyway on what issues we have and what to sort t get accepted.0
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