Looking for some honest advice/opinions as we’re massively stressed at this point.
We applied for a mortgage with Barclays through our broker at the beginning of March (3.83%), but they’ve really struggled to understand my income because it’s split between sole trader and limited company income. After months of back and forth, we’ve now told our broker to forget Barclays and move us elsewhere, so she’s submitted a new application with TSB this week (Tuesday) for 4.79%, as they have already said they are more than happy with my income and documents.
The problem is the sellers have now had enough of waiting and have given us 7 days to get a mortgage offer or they’re putting the property back on the market.
Everything else is done already:
- Solicitors work completed
- Survey completed
- Only thing stopping completion now is the mortgage offer
Property price is £372,500 with a 15% deposit. This is in England specifically.
My self-employed income last year was £50,300 and my partner’s PAYE salary is £50,800.
The application with TSB was submitted on Tuesday, we had a soft search then a hard search that same day, they asked for most recent months payslips and an updated statement for our Lifetime ISAs also that same afternoon. But nothing else has happened since.
Realistically, do people think there’s any chance of getting a TSB mortgage offer in time, or should we be preparing ourselves to possibly lose the property at this point?