H2B Calculator - Is it simply pass/fail?

Safe'n'Sound

Safe'n'Sound Posts: 69 Forumite

First Anniversary

First Post

5 December 2019 at 5:20PM in Mortgages & endowments

Just wondered if anyone has any previous experience with this. Is it a simple case of anything red is a bye bye, or can they look at your individual circumstance like an underwriter would? For information, I'm 47% on the 'debt to household income ratio' which has a max of 45%. All the other final calculations pass.

0

Comments

[Deleted User] Posts: 0 Newbie

5 December 2019 at 5:48PM

Its a simple pass or fail.

Can you not increase the mortgage term to make it fit?

0
Safe'n'Sound Posts: 69 Forumite

6 December 2019 at 11:17AM

Ah, thanks. Just changed if from 25yrs to 26yrs (the max I can do) and it has reduced but 1%. So I'm now at 46%.

Still 1% short!

0
asm89 Posts: 136 Forumite

6 December 2019 at 11:44AM

https://www.moneywise.co.uk/news/2019-08-29%E2%80%8C%E2%80%8C/home-buyers-using-help-buy-can-now-take-out-35-year-mortgage

Is the issue that you'll hit retirement age after 26 years?

0
Safe'n'Sound Posts: 69 Forumite

10 December 2019 at 3:39PM

Yes, I will be hitting early/mid 70's when it's due to expire (the mortgage that is!)

0

This discussion has been closed.

★ ★ ★ Meet your Ambassadors

Categories

All Categories
343.1K Banking & Borrowing
250.1K Reduce Debt & Boost Income
449.6K Spending & Discounts
235.1K Work, Benefits & Business
607.8K Mortgages, Homes & Bills
173K Life & Family
247.8K Travel & Transport
1.5M Hobbies & Leisure
15.9K Discuss & Feedback
15.1K Coronavirus Support Boards

MSE News

Save up to £1 on your takeaway coffee – while saving the planet
Many of us regularly reach for a cup of coffee or tea to give us a caffeine boost, but if you’re out and about and can't bring a thermos from home, the cost of this can quickly mount up.
Chase customer? Check if you can get its boosted 5.1% easy-access saver
If you have a Chase current account, you may be able to get a table-topping 5.1% easy-access savings rate to go with it, as the bank has launched a new, temporary bonus offer for some existing customers.
New online state pension boosting tool promised to Martin Lewis hit by delays – here's what you need to know
The tool was first promised to MoneySavingExpert.com founder Martin Lewis on ITV's The Martin Lewis Money Show Live last summer and was expected to launch before the end of the 2023/24 financial year.
Spotify to hike prices by up to £24 a year – here's what's happening
If you've got a Spotify Individual, Duo or Family account you'll see prices rise by up to £2 a month (equivalent to £24 a year) in a month's time, the music streaming service has announced.
Subway customer? You've got until 14 May to use your loyalty scheme points before shake-up – here's what's happening
If you're a Subway Rewards member, you have until the end of Tuesday 14 May to spend any points you've built up – or lose them entirely.
Nearly 850,000 people missed out on cheaper passports last year – here's how to cut costs and beat the upcoming price hikes
Nearly 850,000 people missed out on cheaper passports last year – and with fees rising by 7% this week, here's how to get a new passport for less.
Ted Baker to close 15 stores as it falls into administration – your shopping, refund and gift card rights explained
Fashion retailer Ted Baker will close 15 stores, including 11 by the end of next week, after falling into administration last month. Hundreds of staff are facing redundancy as a result of the administration.
State pension boosting to become easier as new online tool to launch within six months
A new online service designed to simplify how you check and pay for voluntary national insurance contributions is due to launch before the end of this financial year, the Government has confirmed to MoneySavingExpert.com.
NHS prescription costs in England to rise from May – check if you can save now
The charge for a single item will increase by 25p to £9.90 from Wednesday 1 May, the Government has confirmed. If you regularly pay for prescriptions, check if you can save by buying a prepayment certificate now.