Mortgage advice

Discussion in 'Mortgages' started by Katec84, Nov 24, 2019.

  1. Katec84

    Katec84 New Member

    Long story short my husband and I have been refused a mortgage due to affordability, his credit score is excellent mine is fair ( 2 adverse which have now been satisfied) we have a combined annual income of 39,000 no debts just general bills electric gas broadband etc, we currently pay £750 rent as private tenants, natwest AIP Said our mortgage would be £608 p/m after a month they said no, went with a broker had to go to a specialist company as husband is self employed and my credit , got another AIP payments would be £850 after another month they said no! We can afford the payments my husband had a 8k loan so before we applied for the mortgage we were comfortably paying out rent plus 300 to that loan p/m .
    Can ANYONE give me any advice?! Is really frustrating & horrible to know we’ll never get a mortgage, we are essentially paying someone else’s mortgage all the while we renting
    Thankyou in advance
  2. realdeals

    realdeals Active Member

    What level of deposit did you agree to pay?
  3. Katec84

    Katec84 New Member

    50k property we liked was 237k
  4. Is it the LTV ratio which is causing problems? I worked it out at just under 79%.
  5. FWL

    FWL Member

    I dont think they are too bothered what you can afford now, probably more focused on the LTV ratio. Only way to fix that is borrow less or use other assets as collateral if possible.
  6. Steve Banner

    Steve Banner New Member

    Lenders dont look at what you're paying out already Kate, they mostly just follow their procedures. You need a broker that really knows what they're doing and he/she may be able to find something.
  7. Steve Banner

    Steve Banner New Member

    I've been trying to find out how to private message you on here, but cant find a way. What is your email address Kate.
  8. Steve Banner

    Steve Banner New Member

    I may know somebody that can help you, but I'm not sure I am allowed to put it on here.
  9. Longterminvestor

    Longterminvestor Administrator

    @Steve Banner

    I think you would need to contact the site administrator to contact anyone directly.

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