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Borrowing more
neilwchad
Posts: 22 Forumite
Hello
I have applied to borrow more on my existing mortgage. The amount I’ve applied for is 40k. It is for home improvements, bathroom, kitchen, conservatory and a few other bits. I’ve passed the affordability a few days ago and i have another meeting this coming week before it goes off to the underwriter.
My LTV is currently 39%. I paid 85k for the property, the HPI according to the lender (NatWest) is just shy of 114k. I earn 27k annually and have 2 dependents under 18. No credit problems, just an outstanding loan amount of 1.4k.
Does anyone see this potentially falling short at the underwriting stage?
Ps. I did want to use my broker but because of the amount i was wanting to borrow NatWest told the broker for me to go directly to them. Probably didn’t want to pay the broker a fee.
Thanks in advance.
I have applied to borrow more on my existing mortgage. The amount I’ve applied for is 40k. It is for home improvements, bathroom, kitchen, conservatory and a few other bits. I’ve passed the affordability a few days ago and i have another meeting this coming week before it goes off to the underwriter.
My LTV is currently 39%. I paid 85k for the property, the HPI according to the lender (NatWest) is just shy of 114k. I earn 27k annually and have 2 dependents under 18. No credit problems, just an outstanding loan amount of 1.4k.
Does anyone see this potentially falling short at the underwriting stage?
Ps. I did want to use my broker but because of the amount i was wanting to borrow NatWest told the broker for me to go directly to them. Probably didn’t want to pay the broker a fee.
Thanks in advance.
0
Comments
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Think it should be fine.
they might just ask for proof such as a quote.1 -
Thanks, I’ve provided those details. What will be will be0
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