getting more from the bank

[jamiew]

Hi

Just wondering if any of you know is it normal practice that when you apply for mortgage, the first figure the bank give you, is usually just a starting point and you can may end up getting more??

We are being given a figure of approx 160 but are hoping in the end to get 210, we have showed we can pay a mortgage of up to 1400 based on what were paying on rent and saving but they are only going on net disposable income!

any experience or opinions on this?

thnaks

 

[wbbs]

Not normally a bargaining situation, bank inputs income into computer, computer says how much you can borrow. Unless you have further income or new information to change what they input then the amount you can borrow won't change.

It doesn't matter what you think you can pay, it depends what their stress tested systems says you can pay. Banks differ with their criteria so different banks may give you different answers.