Nationwide AIP Retracted (FTB)

xmasturkey

Having waiting since 18th Feb until last week for the AIP on a 10% Mortgage borrowing £145000 with the Nationwide arranged through an IFA.

During that time I was able to increase my deposit by £6000, and my overall affordability increased.

IFA told me to go and look at houses while he tried to come back with improved figures either on size of deposit or size of maximum amount borrowed.

However today whilst on a viewing I got a call to say the following;

"She has explained that as of last Wednesday the Nationwide won't do a 90% purchase mortgage for a non-existing Nationwide Mortgage Customer. They have pulled that part of their portfolio and she doesn’t know if they will offer some new products, but it might be a while."

Having looked on the Nationwide website and confirmed it with an advisor it would appear 90% FTB mortgages are very much available.

Please can someone give me advise on this as I'm confused.

Also arranging a mortgage directly with Nationwide puts us with a mortgage valued £20000 less than the AIP figures? I don't know what to make of this, as my deposit and overall earnings are greater.

Thanks in advance.

Thrugelmir

Were you applying for an interest only mortgage?

xmasturkey

No. It was repayment with fixed rate for 3 yrs.