Afternoon,
Just back from HSBC Bank, have already had an DIP and have now completed the full application. Credit Check & Affordability checked out and it has been passed to the underwriters.
I'm told this is normal due to me being a company director. Anyone any ideas how many people get rejected at this stage? All seems positive so far but it's not stopped me worrying!
Bit of background info:
House Value: £170,000
Deposit: £17,000
Annual Income: £37,000 (low salary high dividend, although they worked out a 3 year average of £36k from our company accounts)
Salary Multiple: 4.3x Salary
They also worked out after all bills and mortgage ect is paid we would be left of £1.8k a month. As it's a sole application they have not taking into account my wife's monthly income which is £1,041 so affordability is not an issue. We also have 3 children.
Whats the chances of our application being declined/approved? I've read many threads with regards to HSBC being very picky!
Just back from HSBC Bank, have already had an DIP and have now completed the full application. Credit Check & Affordability checked out and it has been passed to the underwriters.
I'm told this is normal due to me being a company director. Anyone any ideas how many people get rejected at this stage? All seems positive so far but it's not stopped me worrying!
Bit of background info:
House Value: £170,000
Deposit: £17,000
Annual Income: £37,000 (low salary high dividend, although they worked out a 3 year average of £36k from our company accounts)
Salary Multiple: 4.3x Salary
They also worked out after all bills and mortgage ect is paid we would be left of £1.8k a month. As it's a sole application they have not taking into account my wife's monthly income which is £1,041 so affordability is not an issue. We also have 3 children.
Whats the chances of our application being declined/approved? I've read many threads with regards to HSBC being very picky!