please desp need help

davsidipp

my husband is reg disabled and recieves dla as well as higher rate mobility and care allowance we have a mortgage with nationwide for 25000. which we have no problem paying.the mortgage was for an extension on our house which is worth 300000.+ to finish the house as we under budgted we went back to nationwide to ask for 15000.more which would amount to about 50. pounds amonth more but was refused as my husband and i are not in work and said they should not have given us one in the first place please could anyone give some advice as we have been to a couple of other firms earth mortg and firstplus but they want crazy fees to borrow 15000. and we are not prepared to pay 3000. to borrow 15000. any advice?or help:eek:

dunstonh

Nationwide now believe that you cannot afford the payments and with hindsight believe that you shouldnt have had the original amount.

Jumping straight to a high risks lender like first plus after refusal is like going to a loan shark.

Your best bet is to find a local independent mortgage advisor who can give you proper advice based on your circumstances. They will tell you if you are not going to get a mortgage with a "proper" lender and then if you still really want the money, they will advise on the appropriate high risks lender, after making you fully aware of what you are letting yourselves in for.

You need to go to the broker and not to the companies directly.

MortgageMamma

I think you should have a word with nationwide as to why they gave you the mortgage in the first place, now they are saying they shouldn't have!

davsidipp

yes we have spoke to nationwide and they said the brokers london and country lied to them also they would not lose out as we have 275000.+collateral in the house and are not finding the payments hard as we have not faulted on the mortgage

homer_j_3

dunstonh wrote:

Nationwide now believe that you cannot afford the payments and with hindsight believe that you shouldnt have had the original amount.

Jumping straight to a high risks lender like first plus after refusal is like going to a loan shark.

Your best bet is to find a local independent mortgage advisor who can give you proper advice based on your circumstances. They will tell you if you are not going to get a mortgage with a "proper" lender and then if you still really want the money, they will advise on the appropriate high risks lender, after making you fully aware of what you are letting yourselves in for.

You need to go to the broker and not to the companies directly.

I wholly echo this. There are lenders that will take DLA into consideration. DO NOT UNDER ANY CIRCUMSTANCES PAY FEES BECAUSE YOU FEEL THAT YOU HAVE NOWHERE TO TURN TO.

yes we have spoke to nationwide and they said the brokers london and country lied to them also they would not lose out as we have 275000.+collateral in the house and are not finding the payments hard as we have not faulted on the mortgage

hmm... I would be very keen on seeing what they did say to the NW. I would be requesting a data subject access on my file and seeing if the details and notes on my application had been a true reflection of what had been said.

If their advisor has lied, they have committed a crime, however, if you signed to agree the facts, you too have also lied too, albeit through not checking paperwork correctly.

Whatever the outcome, it certainly is not a good reflection on the advice given.

If you post your income and sources. Also if you could post amount of borrowing and value of property, hopefully we will tell you if there any prime lenders that will be able to help.

dunstonh

Or it could just be the person at the Nationwide thinking up an execuse to pass the buck. "it wasnt us, it was them". Have the Nationwide looked at the application, was it completed with false information? I bet they haven't.

davsidipp

the lady at nationwide did not go into details about how much we had coming in all she was concerned about was we were not working

homer_j_3

well there are lenders that will be more open to your situation so I would forget about the NW and move on then.