Two lender decline my mortgage, they said inconsistency of my document, I provide all my P60, payslip, bank statement, employers ref. Working then for 8years, so I don’t know why my document is not enough, I’m really frustrated now, Asking why, I have a good employer, I have a good salary, paying tax but still declining my application 😭😞😭😞😭
Please book a free chat with me so we can take a look, using the link below. outlook.office365.com/owa/calendar/MortgageChainLtd@mortgagechain.co.uk/bookings/
Hi Alex, recently started a new job. The job is in the same industry as my previous job (that I was in for over 2 years) and even the same job title, just a significant jump in salary. I am still in the probationary period, how likely is it that I would be accepted for a mortgage? I have an excellent credit history if that makes a difference.
I had DMP back in 2020 and is all paid off already. Since then i managed to save money for deposit and have no debts. My partner have great credit history. We both have combined income of more than 80k. Please if i can get mortgage.
@@jakubzacny3621 sounds good, well done for that! Looks like you will have the door opened by some specialist lenders. Just book a free chat so I can let you know your options here - link.alexkerr.co.uk/mortgage
Just abit worried as my spending habits wasn’t so good because I weren’t planning on getting a mortgage to the past few months and was given some money for a deposit but my credit is all good never missed a payment or anything so we will just have to see how things turn out 🤞
my mortgage has been decline i only need to borrow 20% but my partners credit score sucks this mortgage would be 100+ pounds per month cheaper than my rent i just duno what to do now im looking at having to get a loan or somthing liek that
@@alexkerrmortgage well my 3% mortgage in principle was cancelled and now my mortgage advicer is offering me at 9.9% i just feel like pulling all my money out of teh bank and telling them to piss off and just wasting my money on a load of crap this country is an absoloute joke i wish i could lend people money for the return that the banks and such get my god this is an absoloute joke and i feel sorry for those who got mortgage at 0.5% on a 300k mortgage and have to remortgauge this month must be heartbraking
You can apply with another mortgage lender straight away in most cases, as long as the previous decline was not something that would be declined outright with other lenders.
It depends on the way the agreement is engineered. I would say it likely does, but to be sure, check your credit file to see if a balance has been registered, and this will give you the answer. And thank you for watching.
Great video. What would your advise be for someone who has been working overseas long term (I'm British military and have been based in Canada for 2 years with family) and now looking to buy first home after returning. British bank account statements will show low income and low spending, as this has all been done via a Canadian bank account. Are lenders likely to understand the situation? Can pay slips be used to supplement proof of income?
@@alexkerrmortgage UK citizen all my live, same with my wife. Still a member of the British Army and paid as such into by British bank account from the end of this month onwards. Account was open the whole time we were away, and is the bank we have been saving our deposit (around 15-18% worth) with, but the current account has had minimal activity for 2 years up to now. Is the gap likely to hurt my mortgage application? And how would I best move forward? Hoping to be in our own home by Spring 2022 if that's realistic.
Hi Alex, as a FTB how would withdrawals from Crypto/Stocks impact the chances of getting a mortgage. Apologies if you have mentioned this in a previous video.
Hi Zak, Not many lenders like Cryptocurrency, there may be one or two that would except bitcoin if it was easy to follow the investment and withdrawal trail… It would be a case of researching lenders criteria, probably a lot of work required!
Hi, when working out the debt to income, should I include all remaining car payments (36 month personal lease hire) as well as say a bank loan with a couple of years still to go? Or... would it be monthly car payment x12 plus any monthly loan payment x 12, divided by annual salary? Thanks, your videos are really helpful.
Hi Peter, that’s it you Just need to times the monthly payments by 12 and then deduct from Income. What is the question regarding dividends ? Thanks for watching! Alex
PLEASE HELP: my wife and own a house in Italy and we have lived in UK for 8 years now. The house in Italy is paid off. Could we apply as first time buyer in UK? We think to buy a house here, many thanks
Hi Alex, in a position where I may inherit part of a house (mortgage paid off). If I want to buy my own property will I need a 20% deposit? Or does it not count as a 2nd home for mortgage purposes? I understand there will be a higher stamp duty unfortunately. Thanks alot for the help.
@@alexkerrmortgage Hey Alex, No I won't be renting out the inherited part of the property as my siblings will still continue to live there. Plan is to save and move out once I have enough. Was hoping I wouldn't need a huge 20/25% deposit as I won't be buying a '2nd' home for anything other than to live in.
Grate video Alex… I went to apply for a mortgage and my bank told me I had missed payments on my Credit report. I know this because I checked it and it was on two of my reports. It’s not even a missed payment I change banks because it was more convenient and there was nothing outstanding. I’ve emailed both lenders and the problem is being addressed. Will it be taken off my report for good? And a there is a house I’m interested in can I still visit the property and go through the steps of get a mortgage on it?
Brilliant advice as always. Do you know how much is too much when it comes to spending whilst saving for a deposit? What percentage of our monthly income would raise concern with a lender? I hope that makes sense. Thank you in advance for any advice you can offer
Thanks Deborah! I am going to do a video about a budget planner soon... but for now, I would just apply common sense for now... i.e. £1000 per month on takeaways (not good) Vs £100 a month (Acceptable). Lenders do not like gambling. It's more excessive patterns of over spending... You will very likely know if there is a red flag, go through your last 3 months bank statements and see whats going on !
