Mortgage application

gadget88

So we failed a montage application as one of my wife’s pay slips was less due to a bereavement and a holiday. They said £5 grand deposit more would not be enough but they reckon £10 wouldn’t fail but can’t be sure. We managed to find 15 thousand more but having doubts will it even pass? Will we need another bank? If we pull out we have to pay home report and legal fees still?

ACG

Is your wife on a zero hours contract? 
If you pull out of the purchase completely you might lose money. 
But one lender reducing the loan amount does not mean no lender will lend. You just need to find one that is more suited to your circumstances. 

gadget88

ACG said:

Is your wife on a zero hours contract? 
If you pull out of the purchase completely you might lose money. 
But one lender reducing the loan amount does not mean no lender will lend. You just need to find one that is more suited to your circumstances. 

No 40 hour contract she gave 3 months pay slips. One was short so they took an average. We managed to find another £15 thousand this should help it go through but we won’t know for about 3 days. 

firsttimebuyer29rp

Seems crazy you have to find an extra £15k unless I am missing something. 

Are you using a broker? If not, can you use one? 

If that’s all it is then there should be lenders out there that are more lenient. 

Who are you applying with out of interest?

grumpy_codger

Can P60 be more informative than three recent payslips?

gadget88

grumpy_codger said:

Can P60 be more informative than three recent payslips?

Yes seems a good idea.

So a redemption statement I selected this as I want a new 5 year deal so will this redeem mine as I just wanted to check the price I owe? Seemingly I owe £4 thousand but not sure if I can add this my mortgage term?