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lending criteria tightened

peppapig14
peppapig14 Posts: 268 Forumite
Eighth Anniversary 100 Posts Name Dropper
in Mortgages & endowments
mortgage offer expired in August (house sale fell through) , and now it seems lending criteria has tightened.
is anyone else experiencing being offered £20k less by the lenders? 

Comments

  • ACG
    ACG Posts: 24,897 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Barclays by any chance or were you using bonuses/overtime/commission towards your 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.
  • peppapig14
    peppapig14 Posts: 268 Forumite
    Eighth Anniversary 100 Posts Name Dropper
    ACG said:
    Barclays by any chance or were you using bonuses/overtime/commission towards your income? 
    Our original offer was with nationwide, and yes using annual bonus and regular overtime - now they are not accepting these
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    1,000 Posts Second Anniversary Name Dropper
    Pretty much every lender in the industry has tightened up some part of their criteria. There are other lenders still taking bonuses and overtime though so worth looking at wider market 
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