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    • Summer12
    • By Summer12 15th Mar 17, 10:11 PM
    • 18Posts
    • 2Thanks
    Summer12
    Nationwide affordability calculator
    • #1
    • 15th Mar 17, 10:11 PM
    Nationwide affordability calculator 15th Mar 17 at 10:11 PM
    Hi,

    I'm trying to get my head around the Nationwide calculators, does anyone know if the affordability calculator incorporates a stress test? "How much you can borrow calculator" says 336k, monthly repayments on 330k states 1400 approx leaving over 3000 left for bills and yet affordability calculator says no can only lend 273k with no debts except a lease car 289 per month. Do staff at Nationwide use these calculators or will seeing an actual person make more of a difference. I must be doing something wrong here as it doesn't make sense! Any help greatly appreciated!
Page 1
    • tom2205
    • By tom2205 16th Mar 17, 7:56 AM
    • 39 Posts
    • 11 Thanks
    tom2205
    • #2
    • 16th Mar 17, 7:56 AM
    • #2
    • 16th Mar 17, 7:56 AM
    I have been told by my go to person at Nationwide that the affordability calculators that Nationwide use in branch and on the regular internet site are poor and don't usually work.

    Your best bet is the intermediary Nationwide affordability calculator as that is more accurate and is pretty watertight as long as you are bang on with your figures.
    I am a Mortgage & Protection Broker

    You should note that this site doesn't check my status as a Mortgage Broker, 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.
    • kingstreet
    • By kingstreet 16th Mar 17, 7:56 AM
    • 31,322 Posts
    • 16,735 Thanks
    kingstreet
    • #3
    • 16th Mar 17, 7:56 AM
    • #3
    • 16th Mar 17, 7:56 AM
    http://www.nationwide-intermediary.co.uk/calculators/aff_calc

    The intermediary calculator is very reliable and yes, it determines if you will get the amount requested.

    Yes it has a stress test inbuilt.

    Make sure you enter only what is asked for. Enter only essential to and from work travel and not your total travel bill. Estimate council tax and buildings insurance, we use 1,400 and 240 respectively.

    It uses ONS averages for most household expenses, so no sticking food bill, mobile phone etc in there.
    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.
    • Summer12
    • By Summer12 16th Mar 17, 8:55 PM
    • 18 Posts
    • 2 Thanks
    Summer12
    • #4
    • 16th Mar 17, 8:55 PM
    • #4
    • 16th Mar 17, 8:55 PM
    Thank you!

    Was entering our total petrol bills for our cars rather than just work use petrol (I also get paid my work miles so guess these don't need to go on at all). Also forgot child benefit! What a difference a few numbers make! Now "affordability" has shot up to 390k. Just shows how careful you have to be. Thank you again.
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