Help

martin_a_2

Hi all, my current lender will not re mortgage me as I want to move house and reduce my mortgage.

I have a few loans but can pay all my debts but still they will not re mortgage me.I am not behind or in arrears with any of my creditors:wall: .Does anyone know what I should do now as my house is sold and I am at my wits end. need help today.

Thanks
martin

Geoff13_2

Have they said why they have declined you?

herbiesjp

Are you looking to port your mortgage?

YOu haven't exchanged contracts on the sale have you? Have you just accepted an offer for you house?

martin_a_2

thanks all, they have declined me for excess borrowing. my credit cards are near maximum but not over limit. really need help to resolve today

_Andy_

Martin we ned some more detail to try and help. e.g

Value of property you're buying.
Mortgage you're after
Income
Outoings and debts
Joint names or just your name?

Thanks

Geoff13_2

And who is your current lender

martin_a_2

Andy,

215,000 is value of new property
204250 is value of mortgage ie 95%
income roughly £77,000
outgoings per month are £2,500 approx
Joint

Thanks am starting to feel better already

Martin

martin_a_2

nationwide

_Andy_

Thanks Martin. The outgoings you mention, are they just for debts?
Also could you give us your net monthly incomes.
Based on what you've told me I'm guessing Nationwide declined it due to affordability.

martin_a_2

yes they have. my debts per month are about £1500, my income per month is £2770 and my wife's is £1750 approx.

I have had to give them a copy of my savings book today but really need to solve ttoday.

If they force me to look else where will i still have to pay thier fee?

Geoff13_2

On those figures it looks like they'd go to £199750 - what is your exact income figure - ie from your March payslip showing year-to-date earnings?