Hi All,
First post for me. Wondering if anyone can give any advice or reassurance. I applied for a 95% LTV mortgage with £7600 on credit cards and a personal loan for my car with Monmouthshire Building Society. Despite going through the application and figures with the branch manager, they rejected it in full applicatin as my card balances were too high and my mortgage was doubling (capital) although the payment was only going up by £150pm.
I have applied to Halifax over the weekend and had the application underwritten over the phone. I have been at the same address for 10 years, no defaults, credit score in the 980's on Experian, have paid my valuation fee and they should be coming out this week. I am worrying acit as I already had an application turned down with Mon BS for no other reason than it didn't fit their lending profile -(why they issued an AIP the week before based on exactly the same figures I don't know- I was advised by the applications department that they were being picky because it was in the indemnity bracket).
Can anyone advise if there should be any reason why Halifax would now reject the application- have read a few threads about underwriters being picky, the only unusual things are a series of payday loans for around £250 per month for 6 months, all paid back on time as my husband was in some difficulty paying petrol bills when he was seconded 44 miles further away than usual wityh no reimbursement two years ago. All Halifax have asked for is one payslip which I have faxed to them this morning.
It is a sole application as my husband is on a fixed term rolling contract based on me lending 99K on a 34K basic salary.
First post for me. Wondering if anyone can give any advice or reassurance. I applied for a 95% LTV mortgage with £7600 on credit cards and a personal loan for my car with Monmouthshire Building Society. Despite going through the application and figures with the branch manager, they rejected it in full applicatin as my card balances were too high and my mortgage was doubling (capital) although the payment was only going up by £150pm.
I have applied to Halifax over the weekend and had the application underwritten over the phone. I have been at the same address for 10 years, no defaults, credit score in the 980's on Experian, have paid my valuation fee and they should be coming out this week. I am worrying acit as I already had an application turned down with Mon BS for no other reason than it didn't fit their lending profile -(why they issued an AIP the week before based on exactly the same figures I don't know- I was advised by the applications department that they were being picky because it was in the indemnity bracket).
Can anyone advise if there should be any reason why Halifax would now reject the application- have read a few threads about underwriters being picky, the only unusual things are a series of payday loans for around £250 per month for 6 months, all paid back on time as my husband was in some difficulty paying petrol bills when he was seconded 44 miles further away than usual wityh no reimbursement two years ago. All Halifax have asked for is one payslip which I have faxed to them this morning.
It is a sole application as my husband is on a fixed term rolling contract based on me lending 99K on a 34K basic salary.