Mortage Repayment Capacity Issue because of the expense of a wedding

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FCBC12

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My wife and I recently got married. 3 months later, a house we had our eyes on for some time has become available. We met a mortgage advisor to obtain the mortgage. We passed the 3.5 times earnings test, however we failed on the ability to repay test. This was solely due to having the expense of a wedding within the last 6 months. The advisor stated that non-income credits (in this case cash gifts which were subsequently deposited to our bank account) are excluded from the assessment, which I can agree with. However, the connected expenses (for example hotel cost etc) are still included in the assessment, which I don’t understand.

We can ill afford to wait a further 2 months until the expense of the wedding falls outside of the assessment period, by which time the house will likely be snapped up, as the demand is high. The property agent is looking for an AIP from us to lock in the house.

Has anyone got advice on where to go from here?
 
FCBC12 said:
This was solely due to having the expense of a wedding within the last 6 months.
Click to expand...

Did you consider that when deciding to get married or deciding how much to spend on a wedding?

I really don't understand how people who are thinking that they might buy a house blow the deposit on a big wedding.
 
Any suggestions on where to go from here?
I was surprised the banks allow expenses that are connected to disallowed non-income credits. In hindsight, if we knew the property would become available so soon after getting married, we would not have deposited the cash gifts, and simply used this as a means to get by day to day, but, we are where we are.
 
Did the broker tell you which banks declined your application, or was it their assessment that you don't pass?
 
Ulster Bank - on the grounds of affordability. We had previously went to KBC directly but hit the same stumbling block.
 
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