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Mortgage declined twice with no reason given

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Comments

  • Sa3333
    Sa3333 Posts: 13 Forumite
    10 Posts
    edited 1 May at 3:50PM
    Childcare in terms of food, clothing is shared between me and my partner. My partner works full time.
  • Hoenir
    Hoenir Posts: 7,742 Forumite
    1,000 Posts First Anniversary Name Dropper
    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
    Sa3333 Posts: 13 Forumite
    10 Posts
    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
    k12479 Posts: 812 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    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
    Hoenir Posts: 7,742 Forumite
    1,000 Posts First Anniversary Name Dropper
    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
    Sa3333 Posts: 13 Forumite
    10 Posts
    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
    silvercar Posts: 50,036 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Name Dropper
    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.
    I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • RedFraggle
    RedFraggle Posts: 1,457 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    edited 3 May at 8:39AM
    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. 
    Officially in a clique of idiots
  • Sa3333
    Sa3333 Posts: 13 Forumite
    10 Posts
    It's my wife, I will go ahead and make a joint application
  • sheramber
    sheramber Posts: 23,297 Forumite
    Part of the Furniture 10,000 Posts I've been Money Tipped! Name Dropper
    The outstanding amount of the loan may be more relevant than the monthly repayment.
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