FTB Questions

Yorkie1

If your utility bills or bank statements are all paperless / online, double check whether NW will accept a printout or whether they need an original paper version from the utility company / bank.

b3ckford

Just an update, went to see nationwide bank manager today. He has booked me in for the mortgage advisor next Thursday went through a few figures showed him our wage slips, p60,s and he ran it through the system and gave us a figure which we could borrow. Not sure if he credit checked us or not he said our LTV was very good at 74.19%. Ive just received and email from nationwide confirming our appointment. It says will take 2hrs (gosh) and to bring relevant documents which gives a list from pass ports driving licenses etc. so will see what happens next Thursday.

johnboyinsole

Good luck b3ckford, hope all goes well. If he gave you an approval in principal then they will have credit checked you but if it was just a rough guess at what you could borrow then probably not. Depends if they asked you about your income, outgoings in lots of detail, etc etc. Let us know how you get on. I was pleased with 85% LTV so I'd be extra happy with 74.19%, especially as that takes you into cheaper interest rates. As you're applying in branch, they may offer you the Save to Buy mortgage aimed at first time buyers. I initially signed up for this as there was cashback of £1000. However they only allow 85.01% LTV or higher which means much higher interest rates. Over the fixed term, it was cheaper not to go that route, even with the cashback included. So unless you really want to keep lots of money aside to do a property up and can afford the higher repayments then I probably wouldn't do this route in terms of costs overall. Obviously this will be down to you though but since the interest rate for 75% LTV is over 2% less APR then you'll be saving even more.

b3ckford

Yeah they said about putting all our accounts into nationwide I.e, have 1 current account each and then 1 joint account, then we'd be eglible for buying fees paid for and we was also eglible to switch to fixed rate at anytime from the word go which was interesting. Said will go into more detail next Thursday. Just wondering with all these accounts being set up do they run credit checks per account? Just thinking that would be alot of searches on credit file