Decision in Principle - further checks?

alligator18

I'm assuming now that Nationwide have instructed the survey & valuation (and as long as that is all okay), they will issue a mortgage offer?

Basically what I'm asking is that credit wise everything is okay if they've taken the application that far??

sgh1976

alligator18 wrote: »

I'm assuming now that Nationwide have instructed the survey & valuation (and as long as that is all okay), they will issue a mortgage offer?

Basically what I'm asking is that credit wise everything is okay if they've taken the application that far??

I am hoping this is the same with my Halifax application. I won't be happy if they have took my money for valuation etc and then reject the application based on credit scoring

sgh1976

Well cloud 9 here I come.

Just been told that Halifax have approved our application. Valuation was done yesterday and everything was signed off today and the offer has been made.

Initially we went with RBS but 3 weeks later they said no. Last Thursday afternoon our IFA put our Halifax application in and it was all sorted by this morning.

Just need Persimmon to build the bloomin thing now

alligator18

sgh1976 wrote: »

Well cloud 9 here I come.

Just been told that Halifax have approved our application. Valuation was done yesterday and everything was signed off today and the offer has been made.

Initially we went with RBS but 3 weeks later they said no. Last Thursday afternoon our IFA put our Halifax application in and it was all sorted by this morning.

Just need Persimmon to build the bloomin thing now

:T
That's great. Hopefully I'll have a positive response too!!

f1slikki

hey sgh1976 congrats with the mortgage offer...
I am in the same situation as you were, got a B pass with Halifax for mortgage promise, have now submitted full application & paid for valuation and awaiting outcome..

dont understand why you have to pay for valuation before full decision as it is non refundable so annoying if mortgage dont go through...

what documents did you have to provide for morgage & was your credit history all ok...

thanks and again congrats...

scotty101

Hi,

We have just went through the DIP process with our local branch of Nationwide, we brought along all the required documentation and passed the credit check. We received 2 certificates, one for the maximum amount Nationwide would lend us, being 247K, and the other for the amount we require, 172K. We asked what this meant, and was told that these certificates are a guarantee to the funds we can borrow from them. So, all smiles from us. We were however awaiting the sale to go through on my partners property, once this was done, and the funds were in our account, we made an appointment to go through the "application" process, again at our local branch, again no problems, signed all paperwork. Then received a call regarding my SMP, I did ask if this would be a problem, and was told no, but it was, so sent letter confirming back to work date and salary, they were happy with that. THEN,,, they notice that my partners (an existing Nationwide customer) address was under his old property address, obvicously as he has newly sold this, they asked for this to be changed to our current address, my home address, and now our application has been declined??? :mad:I find this unbelievable, how can they decline on an address at this stage? The mortgage advisor we met with was aware that we were both staying at my address, for the short term, so he is not on the Elec. Roll for the address, but never advised us of any problem. Obviously when you sell one property and apply to buy another you are going to be staying somewhere, surely they exercise some form of common sense?
They have now asked for 6 months bank statements which we supplied, and again our advisor has advised us that there wont be a problem with this, we have no faith in her now!

Can anyone help, or offer advice? We have made a formal offer on new property and sellers have taken it off the market!

Many thanks

herbiesjp

Rather than go direct to a lender, you might want to go via a a true whole of market adviser

sgh1976

f1slikki wrote: »

hey sgh1976 congrats with the mortgage offer...
I am in the same situation as you were, got a B pass with Halifax for mortgage promise, have now submitted full application & paid for valuation and awaiting outcome..

dont understand why you have to pay for valuation before full decision as it is non refundable so annoying if mortgage dont go through...

what documents did you have to provide for morgage & was your credit history all ok...

thanks and again congrats...

Got told by our IFA that Halifax approved the mortgage, subject to valuation. Just our valuation went through very very quickly. They asked it to be doen Monday and it was all done by the end of the day.


Because we were a B we didn't have to submit as much data, although our IFA had all our documents from our RBS application anyway. Halifax were able to electronically confirm us, via our joint account with them which helped.

Credit Rating - Well the OH has a perfect history. Mine I thought was ok but I did my own search (first ever one) and found a bit of ID theft had took place but Equifax helped me sort that out and all bad files were removed on the day we got the mortgage

trisha909

Just for info....

I recently applied for a mortgage (Via L&C) with some poor credit history on 2 CC Nationwide turned me down (After checking experian they had done a search). They then tried the same day with Halifax, I again checked with Experian and they too had done a search. I paid the arrangement fee, the same day i recieved a call from Colleys conveyance requesting to value the property this monday. I informed my broker of this as she wasnt aware that Halifax had put one on the case. My broker went away to find more info and then told me i had an aggreement in principal (I have applied for an 80k mortgage for a house valued in excess of 160k).... What will happen next, does anyone think it will fall through?

Jane84

Hi Guys,

Hope someone can shed some light on this for me?!

My hubby and I have been given an AIP from Halifax via our mortgage broker/financial advisor.

I have seen a lot of posts where people have commented on their 'grading or scoring' from Halifax and how that determines whether or not you get a mortgage.

Where do I find out what our grading is???

I called Halifax and they said that because it was done through a broker they cant even access our application and that the broker will have details of the grading. When we asked him, he said we got a B+ which just sounds made up as I thought it was A - C and thats that??? The guy we deal with is purely the introducer.

We dont want to pay for the valuation if we can already tell we are going to be declined?!

Halifax did say that if we have an AIP then of course thats good, but we are aware that of course it isn't a guarantee.

Any advice here would be appreciated.

Many Thanks.