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    • Trixal
    • By Trixal 10th Mar 17, 12:51 PM
    • 2Posts
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    Trixal
    Nationwide - Applying in full after receiving DIP
    • #1
    • 10th Mar 17, 12:51 PM
    Nationwide - Applying in full after receiving DIP 10th Mar 17 at 12:51 PM
    Hi All,

    I am posting to see if anyone with experience with Nationwide could kindly shed some light on what proof documents are required at application stage after receiving a DIP? My partner and I applied for a DIP online last month and received a PDF copy of the certificate. When this went through they requested the last 3 months pay slips for both of us which we have sent through. Could someone please advise whether Nationwide request all documents they will need at DIP stage or do they request more when you put through the full application?

    The reason I ask is because I am now worrying whether they will need to see my bank statements for January. There's nothing untoward going on but we only decided to go for buying a home in February, originally we were going to wait abit longer. I have many bank accounts (5!) and in January I decided to move alot of my funds around, e.g move money out of my regular saver, move the money out of my 'Help to Buy' ISA (as I decided this would not be needed as we would eventually be buying a house worth more than £250k outside of London anyway). So overall I have alot of transfers happening in January between 5 accounts which might seem confusing to a lender.... Obviously I can provide these if needed but it would put my mind more at ease if I didn't have to. I am probably worrying about nothing I know...

    So to that end, does anyone know if Nationwide request everything they need at DIP stage? Or is every situation different?

    To brief our situation: When we applied for the DIP the numbers we used were worse case scenarios, e.g current house sells for less than we think, new house costs more etc. Source of deposit was proceeds from sale of current house less stamp duty and fees etc, so we wouldn't be using any savings in our bank accounts towards the deposit. The loan to value came out at 69% with DIP saying they would lend just over £400k. Our combined annual salary is £90k. When we do go for full application we are likely to be asking for a mortage of about £350k.

    If anyone could offer any insight I would be very grateful
Page 1
    • kingstreet
    • By kingstreet 10th Mar 17, 1:04 PM
    • 31,699 Posts
    • 16,938 Thanks
    kingstreet
    • #2
    • 10th Mar 17, 1:04 PM
    • #2
    • 10th Mar 17, 1:04 PM
    You can usually rely on the DIP requirements.

    If they say all they want is one payslip, they don't usually ask for anything else.

    Unless you change something at full app submission, such as savings to gift, then a requirement for a gift form will appear.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
    • Trixal
    • By Trixal 10th Mar 17, 1:15 PM
    • 2 Posts
    • 0 Thanks
    Trixal
    • #3
    • 10th Mar 17, 1:15 PM
    • #3
    • 10th Mar 17, 1:15 PM
    Thank you kingstreet, that is very reassuring!
    • LKA87
    • By LKA87 10th Mar 17, 2:55 PM
    • 10 Posts
    • 14 Thanks
    LKA87
    • #4
    • 10th Mar 17, 2:55 PM
    • #4
    • 10th Mar 17, 2:55 PM
    We've just been offered a mortgage with Nationwide as first time buyers, we had to send 3 months of payslips, 3 months of bank statements, accountants certificate (my OH is self-employed) and I.D.
    I'm not sure if all of this was used as our broker collected it all from us at DIP stage so she may have just been getting prepared for all eventualities.
    • kingstreet
    • By kingstreet 10th Mar 17, 3:31 PM
    • 31,699 Posts
    • 16,938 Thanks
    kingstreet
    • #5
    • 10th Mar 17, 3:31 PM
    • #5
    • 10th Mar 17, 3:31 PM
    We've just been offered a mortgage with Nationwide as first time buyers, we had to send 3 months of payslips, 3 months of bank statements, accountants certificate (my OH is self-employed) and I.D.
    I'm not sure if all of this was used as our broker collected it all from us at DIP stage so she may have just been getting prepared for all eventualities.
    Originally posted by LKA87
    We have to collect all that regardless of what the lender requirements are. The lender can ask us for these items for years after the application completes.

    I don't like issuing Nationwide DIP Certificates because the client turns round and asks why we are asking for so much when the lender is only asking for latest payslip.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
    • anniecave
    • By anniecave 10th Mar 17, 11:08 PM
    • 2,140 Posts
    • 683 Thanks
    anniecave
    • #6
    • 10th Mar 17, 11:08 PM
    • #6
    • 10th Mar 17, 11:08 PM
    I took out mortgage with Nationwide and I was asked for bank statements as part of application process.


    But from what you say, I wouldn't worry about it even if your are asked to provide them. Nationwide will probably only be looking what money is going out (checking you don't have financial commitments you haven't told them about) and if they do ask then you'll be able show them the reverse of any money you're just moving between accounts.
    Indecision is the key to flexibility.
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