Nationwide mortgage decline after survey done

simon_or

NotThatYoungEagle said:

kingstreet said:

Do you mean after the lender's mortgage report & valuation was done, or after your own survey was carried out?

If you'd like to tell us about your job we might be able to comment on its likely impact.

Hi yes, My mrs she has job and I work at the same company. She is on 42K for 4 months ( but bank was asking for the last payslip)  and I have started new role at £47K at the same company. ( Property small limited company ) and due to receive 1st payslip at the end of this month. ( I have submitted contract ) to the bank.

The property is £510K and we had only £50K deposit 

OP, the things I've put in bold put together must have scared the lender off. Not saying that you're doing anything dodgy but even to my untrained eye it comes across as high risk.

Who owns the "small limited company", are you or were you directors of the company? How are you related to the owners? What were you doing before this employment?

I would normally say go to a broker but they'll suss out any irregularities far quicker than a bank advisor would

MWT

NotThatYoungEagle said:

Hi yes, My mrs she has job and I work at the same company. She is on 42K for 4 months ( but bank was asking for the last payslip)  and I have started new role at £47K at the same company. ( Property small limited company ) and due to receive 1st payslip at the end of this month. ( I have submitted contract ) to the bank.

The property is £510K and we had only £50K deposit 

Were you depending on any bonuses or overtime payments in addition to salary?

Just putting those details into the Nationwide calculator suggests you would have needed to use their 'Helping Hand' product to get the amount you needed, and that brings the points about ownership of the company you work for into play as you cannot have self-employed income with the 'Helping Hand' mortgages...

If that isn't it, then did the lenders valuation agree with the £510k purchase price. or raise any other concerns?