Anyone had a mortgage accepted having applied for SEISS/ Bouncback loan?

SueF1

As title really.
Thanks!

muhammad_minar

Im in the middle of a mortgage application with Santander - but due to complex circumstances this my third attempt. First two were Natwest and Nationwide. Based on my research of the mortgage market - im pretty confidant that depending on the amount you want, and the LTV % - having a bounce back and/or a SEISS grant will be detrimental to your mortgage application. That is not to say it is impossible - but you should see an experience mortgage broker and see what is your best option. Good luck

Sibbers123

You’ve got more chance with the SEISS as it’s not repayable. With the BBL, you’re going to struggle. Both, well, good luck!

330d

We recently did our mortgage accepted with NatWest. We did not have any government funds and NatWest double and triple checked that we had not. At one point, they were going through our statements like by line questioning certain items.

Drawingaline

I had the seiss grant because I couldn't work in April and may. I am back to work now as normal. Hope it doesn't make a difference 😬

muhammad_minar

Drawingaline said:

I had the seiss grant because I couldn't work in April and may. I am back to work now as normal. Hope it doesn't make a difference 😬

Depends on the lender you apply with..... 

anonymouse2202

Drawingaline said:

I had the seiss grant because I couldn't work in April and may. I am back to work now as normal. Hope it doesn't make a difference 😬

If you can afford to pay it back, then they will look at your case as if you never got the money in the first place- that’s what NatWest told me anyways...

MovingForwards

anonymouse2202 said:

Drawingaline said:

I had the seiss grant because I couldn't work in April and may. I am back to work now as normal. Hope it doesn't make a difference 😬

If you can afford to pay it back, then they will look at your case as if you never got the money in the first place- that’s what NatWest told me anyways...

The grant isn't repayable, the bounce back loan is.

SueF1

anonymouse2202 said:

Drawingaline said:

I had the seiss grant because I couldn't work in April and may. I am back to work now as normal. Hope it doesn't make a difference 😬

If you can afford to pay it back, then they will look at your case as if you never got the money in the first place- that’s what NatWest told me anyways...

Do you mean if you have enough money in your business account to pay it back?

izoomzoom

I had the grant, and got offered my mortgage from Santander earlier this week. The grant came into my bank account, whilst we submitted our joint account bank statements. We do not have any other debt, I'd like to believe excellent credit reports and applied for 70% LTV.  Also used a MA.

Drawingaline

izoomzoom said:

I had the grant, and got offered my mortgage from Santander earlier this week. The grant came into my bank account, whilst we submitted our joint account bank statements. We do not have any other debt, I'd like to believe excellent credit reports and applied for 70% LTV.  Also used a MA.

We have applied to Santander. Have just answered some queries about my self employment. I took the grant as I had no income in march/April as I am a cleaner who goes into people's homes. Been back at work since the beginning of June and pretty much back to normal. Also my employment is not even a quarter of my husbands who has been been busier than ever. Also going for around 70%ltv. I am hopeful.