Halifax AIP only lending 1.7x income

COYI123

Hello everyone , I have just done a AIP with Halifax , and they are only lending 1.7X our income ? We have a joint income of £86,000 , amazing credit history , perfect scores , already have a mortgage with perfect payment history , 15% deposit of our property we are buying , no debt , skilled secure jobs , but for some reason they are only wanting to lend up to 1.7X our income ? Very strange , any help would be appreciated 

MWT

That feels like either a lot of other commitments, childcare, nursery/school fees etc. ... or a mistake filling in the details perhaps...?

Time to talk to a broker and see what is going on...

COYI123

MWT said:

That feels like either a lot of other commitments, childcare, nursery/school fees etc. ... or a mistake filling in the details perhaps...?

Time to talk to a broker and see what is going on...

No mate honestly nothing else , I had a call from Halifax and one of their mortgage team spoke to me about it and went through it with me on the phone , and even then they said that is very strange and even tried changing it up themselves , but literally no change , they was just as baffled as ourselves , and yes will have to get broker to sort it , thanks for the reply mate 

K_S

COYI123 said:

Hello everyone , I have just done a AIP with Halifax , and they are only lending 1.7X our income ? We have a joint income of £86,000 , amazing credit history , perfect scores , already have a mortgage with perfect payment history , 15% deposit of our property we are buying , no debt , skilled secure jobs , but for some reason they are only wanting to lend up to 1.7X our income ? Very strange , any help would be appreciated 

@COYI123 It's either large background commitments like school fees/childcare/etc., or you've keyed in the DIP in a manner that keeps the current mortgage in the background instead of redeeming it when you move, or you've made a data entry error or you've entered a very short term.

ACG

I think K_S is right. I know i have been guilty of doing that on the halifax DIP. 
Make sure you have keyed in your current mortgage as a commitment and that it will be cleared. 

Unless you have a football team worth of kids and/or are 60 years old, that makes no sense. 

COYI123

ACG said:

I think K_S is right. I know i have been guilty of doing that on the halifax DIP. 
Make sure you have keyed in your current mortgage as a commitment and that it will be cleared. 

Unless you have a football team worth of kids and/or are 60 years old, that makes no sense. 

This makes no sense . I’ve just done it again , still saying the same . Even the person on the phone at Halifax said it doesn’t make sense as they have also done one for me . One thing I will say is , it doesn’t ask me on the AIP , how long I would like my mortgage to be over ? 

Caz3121

did you get a response from Natwest? https://forums.moneysavingexpert.com/discussion/6446544/natwest-mortgages

did you try the suggestions on this thread? https://forums.moneysavingexpert.com/discussion/6433967/can-t-get-a-mortgage

ACG

Have you cleared any debt in the last 2-3 months? 

theoretica

COYI123 said:

Hello everyone , I have just done a AIP with Halifax , and they are only lending 1.7X our income ? We have a joint income of £86,000 , amazing credit history , perfect scores , already have a mortgage with perfect payment history , 15% deposit of our property we are buying , no debt , skilled secure jobs , but for some reason they are only wanting to lend up to 1.7X our income ? Very strange , any help would be appreciated 

Are you paying off that mortgage or looking for an additional one?

COYI123

theoretica said:

COYI123 said:

Hello everyone , I have just done a AIP with Halifax , and they are only lending 1.7X our income ? We have a joint income of £86,000 , amazing credit history , perfect scores , already have a mortgage with perfect payment history , 15% deposit of our property we are buying , no debt , skilled secure jobs , but for some reason they are only wanting to lend up to 1.7X our income ? Very strange , any help would be appreciated 

Are you paying off that mortgage or looking for an additional one?

Paying it off which I have stated , it really doesn’t make sense 

COYI123

ACG said:

Have you cleared any debt in the last 2-3 months? 

Nope , this is what doesn’t make sense