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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

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Original poster

To feel so pissed off and disappointed

22 replies

Wishfulmakeupping · 19/02/2016 08:43

I've got a toddler and a 2 month old and for a million reasons including better schools and nightmare neighbour where we are we put the house up for sale a few weeks ago.
It's been a really fucking hard slog to get the house in shape whist looking after a newborn and toddler and husband working 6 days a week but we did and sold the house.
We found our dream house so far good...except now the mortgage has been declined (even though affordability and agreement in prin fine)
We're trying to find out what the issue is but not looking likely.
I'm so disappointed. I stupidly got my hopes up- the area where we are now I'm feel so isolated. No baby groups, not many families not even a shop :(
I desperately want to move.
We are only moving across not buying a bigger house or anything I just thought it would work out for us.
I really hate living where I am

OP posts:

Bailey101 · 19/02/2016 08:50

Have you been using a mortgage broker? They will be able to look at a load of mortgages and pin point the best.

I hope you can get moved soon, good luck!

DangerMouth · 19/02/2016 08:54

I second a mortgage broker. No one would touch us last time we were remortgaging because l only had 2 months on my visa left, they couldn't comprehend that after that time l would automatically roll to having ILR.

London & Country got us an even better deal then l could find even with my visa 'issues'

Don't give up!

toohardtothinkofaname · 19/02/2016 08:57

I third a broker. Ours was amazing & we got accepted even though my partner wasn't on a permanent contract. The lender didn't even ask to see proof of employment! Brokers are great for knowing who is likely to lend based on your circumstances. Especially with the 2014 change in requirements; they know who are more lucky than others. They charge but it's worth it.

toohardtothinkofaname · 19/02/2016 08:58

*picky than others

Original poster

Wishfulmakeupping · 19/02/2016 09:01

We've used (and already paid for) our mortgage broker we used her last time so know she's really good.
I was made redundant last year so although I'm actually living off my redundancy money they view me officially as a 'dependant' :(
We'd be putting a 25% deposit down.
I really didn't anticipate an issue.

OP posts:

Original poster

Wishfulmakeupping · 19/02/2016 09:02

On top of all this I'd be really letting down the people buying our house and the lady we are buying from.
I feel physically sick at the thought of this all coming to nothing.

OP posts:

icanteven · 19/02/2016 09:03

Mortgage brokers are amazing. They know all sorts of magic tricks - the bank wouldn't even look at us because of various circumstances, but our broker sorted us out on the first try.

MattDillonsPants · 19/02/2016 09:05

Could you rent the house you own out and rent yourself in the better area?

icanteven · 19/02/2016 09:06

Oh no - I'm sorry I cross posted with you. That must be gutting. At least you know what the problem is and it's fixable, even if not quite yet with a 2 month old. It's a set back, but a year from now you should be working and the problem will be erased, right? How many payslips do you have to have, do you think? Look forward to your solution straight away - try not to dwell on what you can't change at this moment.

Original poster

Wishfulmakeupping · 19/02/2016 09:16

matt that's an option for me but Dh is set against it totally will push for it if needs be.
even the plan was I would be off with the Dcs until the youngest starts school but at this point I'm thinking it might be I need to take a night job for the next few months and the apply again.
We need to be moved by dec/jan as we'll be applying for eldest child's school then so the urgency is there.

OP posts:

Muskateersmummy · 19/02/2016 09:20

You need a whole of market mortgage broker and you shouldn't have to pay them, they get their money from the mortgage lenders. (At least ours did!)

I would keep up with your sale, go into rented for 6 months. During that time find out what the problem was with your mortgage application and work on improving your situation. Next time your purchase you will be in a really strong position for buying as you will be ready to go with not property to sell and a deposit in the bank.

Good luck

slebmum1 · 19/02/2016 09:21

You shouldn't have to pay for a mortgage broker!

QuiteLikely5 · 19/02/2016 09:25

Is it your credit score? What is on there as you need a copy

I doubt it's you being a dependant

PoohBearsHole · 19/02/2016 09:26

just to point out, you've paid for a service that hadn't been reviewed as you don't have a mortgage, the mortgage broker needs to put some more work in on your behalf 😀

StatisticallyChallenged · 19/02/2016 09:37

We had this issue as they wouldn't count his income due to recent self employment. If he was on the mortgage then he counted as a dependent and reduced the amount we could borrow by 50k. I ended up getting the mortgage and house in my name only - because we're married in Scotland and it's the marital home it doesn't matter from a legal perspective for us.

Adult dependents can really hurt the borrowing amount as we found to our cost.

Original poster

Wishfulmakeupping · 19/02/2016 10:14

Some points to think about thanks for info all.
Credit scores are both excellent. We have no loans or credit cards just our sofa payments for £50 per month. We have savings over 12k.
I can't see what the issue is :(

OP posts:

blobbityblob · 19/02/2016 10:25

Yes we had a similar issue with a rental to Statistically Challenged when I was at home with dd. It was me earning nothing that was the problem, even though dh's salary was more than enough to pay the rent and we had £80k in the bank from the sale of our last home. Ask them and find out.

Original poster

Wishfulmakeupping · 19/02/2016 11:49

Broker trying to find out the issue now. I've got estate agents and solicitors chasing me up now and don't know what's happening- broker in training all day so not sure when she'll call me back.

OP posts:

StatisticallyChallenged · 19/02/2016 11:54

Do you know which bank it was? My issue was lloyds - Halifax and bank of scot have same rules

Katenka · 19/02/2016 13:13

Surely the broker should have advised you that you would be classed as a dependent and could change the outcome

HopefulHattie · 19/02/2016 13:23

I really feel for you. I had a mortgage application accepted in principle. I have had an offer I made, accepted on another house. My current house is sold. My ex has rented a flat. Everyone is ready to go but the bank have decided they need a new copy of my tax credits in single status. It could take two more weeks and I haven't a clue what will happen with the figures. They may go down - but the tax credits office wont even give me any idea.

The stress is horrendous! :-(

hellsbellsmelons · 19/02/2016 13:38

We've just been through something similar with our house purchase but my mortgage broker (who does not charge by the way) was fantastic and we found a way around it.
I had to buy on my own and got more than I would usually as the mortgage amount.
Look at another broker and see what they can do.

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