Mortgage declined twice with no reason given

Sa3333

Childcare in terms of food, clothing is shared between me and my partner. My partner works full time.

Hoenir

Sa3333 said:

Childcare in terms of food, clothing is shared between me and my partner. My partner works full time.

No child care costs?  Why isn't your partner on the mortgage application ?  

Sa3333

No child care costs, child under 5 months and being looked after my partner who is on maternity leave. Partner would like to purchase her own property in the future so wants to save her first time buyer status for that.

k12479

Sa3333 said:

...full time permanent...

Sa3333 said:

...a business loan which the payments are being taken from my personal account...

Sounds a little unusual, a loan from your employer or a loan for a business?

Hoenir

Sa3333 said:

No child care costs, child under 5 months and being looked after my partner who is on maternity leave. Partner would like to purchase her own property in the future so wants to save her first time buyer status for that.

Underwriters may sense that the situation is being conveniently engineered. Financial relationships are built on trust.  If in doubt decline and move onto the next application. 

Sa3333

Both me and my partner bank with Halifax, would you recommend i apply with my wife for a mortgage? 

The loan is a business loan that was taken out four years ago. I was running a small business and working full time in a permanent role. The business didn't do well so I stopped and focused on my permanent job. The loan is outstanding hence why I am using my permanent income to repay it, I have no other way to clear the balance.

silvercar

Sa3333 said:

Both me and my partner bank with Halifax, would you recommend i apply with my wife for a mortgage? 

If you put your wife on the mortgage you would also need to put her on the deeds. Whereas 'Joint borrower, single owner' mortgages do exist, they don't generally do them for a couple buying together where both will live in the house.

RedFraggle

Sa3333 said:

No child care costs, child under 5 months and being looked after my partner who is on maternity leave. Partner would like to purchase her own property in the future so wants to save her first time buyer status for that.

Partner or wife? If you're married or civil partners I think that means if you own a property she can't get the stamp duty FTB relief anyway. If you're just living together she would get it on a lone purchase. 

Sa3333

It's my wife, I will go ahead and make a joint application

sheramber

The outstanding amount of the loan may be more relevant than the monthly repayment.