Previously refused a mortgage, should I apply again?

Status
Not open for further replies.

liger

Registered User
Messages
26
Hi There,

I had recently been trying to get a mortgage of 95 -100k. However it was declined due to my wife's business only been open just over 1 year and nowhere would take her earnings into consideration and also penalised me for having to support her.

With the new regulations which say the limits are 3.5 times gross income would it be worth while going back to banks to try now or is it still too soon after last bank application was refused.

Basic is 33k
Shift adds 5k ( Guaranteed )
with OT last year my gross was 48k.

Also what is classed as gross now, is OT in or out?

Even with my basic alone, 3.5times equates to more than I need.
 
Another thing I was wondering. . Are banks changing their own criteria because of the new rules or will applications be treated the same as before but now must fall within CB rules also?
 
Status
Not open for further replies.
Back
Top