Conquer FS - Mortgage Services Ltd

Things that affect the application

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1.Occupation type
For instance lenders will allow more income to professional occupations like Drs, Dentists, Surgeons, Solicitors, accountants etc.

2.Credit Score
Lenders credit score every application and award points on the information, for instance if you have lived at one address for the last three years this will give you points, having credit commitments that have been conducted satisfactory, credit cards, been with you employer for a certain time, occupation types, existing mortgage with no arrears, etc.

3.Adverse credit
Arrears or defaults on existing loans, CCJ's (county court judgements) , mortgage arrears.

4.Income
Basic income, guaranteed bonus or overtime, regular bonus or overtime, commission, maintenance, pensions.

5.Expenditure
Existing loans, credit cards, maintenance payments.

6.Loan amount
Loan to value, how much deposit you have, term of the loan, age.

Lender 1. 3.25 x single salary or 2.5 x joint salary.
Lender 2. 4.50 x single salary or 3.5 x joint salary.
Lender 3. Affordability calculator.
Lender 4. Use all overtime & bonus.
Lender 5. Use half of overtime & bonus.
Lender 6. Use none of overtime & bonus.
Lender 7. Take into account all credit card balances & loan repayments
Lender 8. Take into account loan repayments but not credit cards.
Lender 9. Take into account none of the credit cards or loans.

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Registered in Scotland No. 265558     Registered Office: 90 Victoria Rd, Paisley, PA2 9PT

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