Nationwide only offering 305k on mortgage.
My wife and I are trying to purchase a property and have been working with a broker who is using nationwide. All paperwork sent and went to underwriters as of Wednesday, received a phone call from broker yesterday (Friday) to where nationwide is looking at my payslips and has said my basic pay is only 660 gross so will only offer us a max of 305k where we need at least 330.
They have stated one of my payslips shows my basic at 660 due to holiday/s I have taken (not sure which payslip they have used to get this figure) my basic is 19.65 x 36.17 (710) the have asked for a copy of my contract to say that my basic is this which I will provide but I don’t understand how this will increase the max lend to the 330 min we require as it only equates to 2600 a year? I have an additional allowance per week (76) for my role and have done upwards of 16 hours plus overtime per week in all provided payslips and have now provided my p60 for the last two years which shows consistent earnings of over 58k per year with this financial years payslips showing I’m on track to earn nearer 70k.
How have they came to this figure and why would it be that big of an impact on the max lend? Any help is greatly appreciated.