Hi,
We applied for a mortgage of £120,000 on a £320,000 property. The remainder of the purchase price is cash.
We are having a four way mortgage. The principle applicant income is £34,000 and the second applicant is £51,000.
Neither of them has any late payments or defaults.
Only two incomes are being assessed, but since the property will be in four names, the mortgage will also have the other two owners named.
The third applicant is retired with a monthly income of £1,300, and no late payments or defaults.
The final applicant has an income of £32,000, however has had 3 late payments in the last 12 months and a satisfied default from 5 years ago.
Halifax have agreed in principle to the mortgage according to the broker.
Just needed any advice if anyone has experience whether there are likely to be any problems with underwriting.
Thanks.
We applied for a mortgage of £120,000 on a £320,000 property. The remainder of the purchase price is cash.
We are having a four way mortgage. The principle applicant income is £34,000 and the second applicant is £51,000.
Neither of them has any late payments or defaults.
Only two incomes are being assessed, but since the property will be in four names, the mortgage will also have the other two owners named.
The third applicant is retired with a monthly income of £1,300, and no late payments or defaults.
The final applicant has an income of £32,000, however has had 3 late payments in the last 12 months and a satisfied default from 5 years ago.
Halifax have agreed in principle to the mortgage according to the broker.
Just needed any advice if anyone has experience whether there are likely to be any problems with underwriting.
Thanks.