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Incorrect Overexposure Rejection
tomellingham
Posts: 6 Forumite
Hi all,
My girlfriend and I are in the middle of buying a new build flat, mortgaged through Abbey. However, we were originally going via Nationwide at 4.29% fixed for 2 years, but failed to book in time. We were then offered 4.59% (fix 2 year), were given the AIP but then rejected because Nationwide were over exposed at the site we were buying. We are now going via Abbey at 4.99%.
However it came to light last week that the building we are in has no Nationwide mortgages. We asked out broker who came back to use saying Nationwide had made a mistake and thought it was an identically named plot in Scotland, some 400 odd miles from out flat.
It all sounded a bit fishy, as either Nationwide had not checked the address of the flat vs. what they had mortgaged, or the broker had messed up somewhere.
I'm not sure what I should do about this, nor how to proceed? Any ideas? We are now on (or will be) on a higher rate mortgage because of this slip up.
Cheers,
Tom
My girlfriend and I are in the middle of buying a new build flat, mortgaged through Abbey. However, we were originally going via Nationwide at 4.29% fixed for 2 years, but failed to book in time. We were then offered 4.59% (fix 2 year), were given the AIP but then rejected because Nationwide were over exposed at the site we were buying. We are now going via Abbey at 4.99%.
However it came to light last week that the building we are in has no Nationwide mortgages. We asked out broker who came back to use saying Nationwide had made a mistake and thought it was an identically named plot in Scotland, some 400 odd miles from out flat.
It all sounded a bit fishy, as either Nationwide had not checked the address of the flat vs. what they had mortgaged, or the broker had messed up somewhere.
I'm not sure what I should do about this, nor how to proceed? Any ideas? We are now on (or will be) on a higher rate mortgage because of this slip up.
Cheers,
Tom
0
Comments
-
Nationwide can reject your application for any reason they wish.
So no grounds for appeal.0
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