Rejected mortgage from Halifax - successful appeal?

Pez1990

My husband and I have applied for a new build using help to buy. My husband has 1 year of accounts and I work for my family run business as will be taking over down the line.
Halifax has since rejected our mortgage because I work for a family run business which is part of their allowed criteria and my husbands 1 year books are accepted - however they don’t believe that since he has been self employed, he has earnt an extra £20k on top of his old employed salary. They have all documents there and payslips showing that he gets paid this amount. We can’t take a salary out of a company that doesn’t have the money there. Our mortgage broker has appealed as even the manager was shocked it got rejected. They haven’t given any other reasons but I am now worried we won’t be successful and there are not many lenders that allow 1 years of books. Has anyone had an issue like this and been successful with an appeal?
My husband is guaranteed work from a property developer, hence the very successful first year and already near the end of I second year.

ACG

Although the case may fit criteria, an underwriter still has to make a decision as to whether or not you are a good risk.

I can see why an underwriter may have concerns with your application, it is not that much of a shock (to me). Your options after halifax will see a rise in rates so there is no harm appealing, but I would also be looking at plan B.

kingstreet

I would expect the company's Accountant to be asked to provide written confirmation the family member's salary is sustainable.