Worries - Nationwide Mortgage

scrivomcdivo

Should I be worried then that the nationwide website calculator says we are not eligible for a mortgage with them, if the broker is saying that we are?

scrivomcdivo

scrivomcdivo wrote:

1.) I've just been on the Nationwide website and used their calculator to work out what they would give us (just to play about). Anyway, it said that it could not offer us a mortgage given our total income and outcome (we have combined income of £37000 a year and outgoings are £350 a month on loands - with only one year left on loans to repay). So, although the website has said we are not eligible (without entering personal details in), does this mean we will automatically be rejected or will they consider our full application more carefully?

NOTE: I have just realised that I entered the values as annual repayments on loans as opposed to monthly. Rechecking the website, they will gladly give us £140,000 when we only need £85000 so I'm feeling a lot more hopeful now :T

kenshaz

scrivomcdivo wrote:

Should I be worried then that the nationwide website calculator says we are not eligible for a mortgage with them, if the broker is saying that we are?

I would listen to your broker,it is a Little unfair to undermine him/her,give them the opportunity to sort this mortgage out for you.perhaps you are researching all this to much ,leave it to the broker and enjoy the experience.

scrivomcdivo

Thanks for the advice Ken. Thanks also to everyone else who has offered advice. It may be the case that I have misunderstood what he has told me.