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Mortgage underwriters have questions

4 replies

GorgeousLadyofWrestling · 20/09/2019 10:17

We live in London and are first time buyers. We have three young children - 2, 4 and 6. We can only afford a two bed flat. It just what it is. We currently rent a two bed flat and don’t see it being a problem for the foreseeable future. The logic is we get on the property ladder and when we need more space as the children get older, we will have the affordability.

But the mortgage underwriters are asking about living arrangements for three children in a two bed flat. I’ve responded saying we currently have them sharing a bed room - bunk beds and a single - and the flat we want to buy actually has a bigger bedroom and we intend to continue with them sharing a room.

But I’m so anxious we’re going to get turned down. I know in Mumsnet world, every child has their own room. But this is our reality - we can’t afford to so 🤷🏻‍♀️ In terms of living, it’s not a problem for five or six years.

OP posts:
Emilyjoshua · 20/09/2019 21:51

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Theconifers25 · 20/09/2019 22:06

Que?

SandraOhshair · 20/09/2019 22:19

They probably have concerns you're not going to live there and just using a residential mortgage to actually buy a buy to let. I dont think FTBs can get BTLs anymore?
Anyway, not sure how they'd prove it, however if the LTV is 90% or higher then they're following the guidelines of their mortgage indemnity co.

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PantTwizzler · 20/09/2019 22:21

How bizarre. None of their business! (And it’s good, not bad, for children to share IMNVHO.)

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