Nationwide Mortgages - How long??

chelle333

Got to be honest Nationwide were first class for us, we had Aip on 16th JULY and completed on 20th SEPT, we did wait a fortnight for countrywide to do our home buyers report though, but paper mortgage offer was with us within days of this taking place, the mortgage advisor in nationwide was excellent, we could have completed 2 weeks earlier but choose a fortnight between exchange and completion.

Bon33

Has anyone else had this issue?

We received our decision in principle on Friday with one slight snag. Basically my husbands wages are made up of his basic salary for his grade and a specialist allowance which is compulsory to his role and the directorate he works in, he has received it for the last 7 years and will continue to receive it - there is no question of that. On his wage slips it doesn't appear in the "Basic Salary" section but on the left hand side as an addition.

The mortgage consultant said it may have to be classed as bonus, commission or over time....it isn't any of these. My husbands Senior manager is writing a formal letter to advise that the wages he gets are compulsory and guaranteed and basically that he wouldn't be able to carry out his role without this payment.

My husband works for a government department not a small outfit so to speak so I am just wondering if they will accept it.

It's making me feel sick Have any of you had any similar issues?

kingstreet

Don't bother getting the letter. Nationwide will write to the employer directly for a reference to confirm the payments. A letter directly from you will be ignored as it could have been prepared by you.

Bon33

kingstreet wrote: »

Don't bother getting the letter. Nationwide will write to the employer directly for a reference to confirm the payments. A letter directly from you will be ignored as it could have been prepared by you.

Even if it is signed by a Senior Manager and on Government headed paper? Gosh

Would it be best to just get the Senior manager to fill in the employer reference then?

kingstreet

Yes. How does Nationwide know who signed it?

They only accept payslips from payroll sytems they recognise and will write for a reference to the nominated person at the employer's address or fax number given, which they will check before issue.

They only accept the reference on their form, signed and stamped with the "company" stamp, or on a letterhead and can check the status of the firm, department and official before accepting it. It can only be mailed back, or faxed.

It's just a few elementary precautions to avoid someone having his mate in another office do it for him.

Bon33

kingstreet wrote: »

Yes. How does Nationwide know who signed it?

They only accept payslips from payroll sytems they recognise and will write for a reference to the nominated person at the employer's address or fax number given, which they will check before issue.

They only accept the reference on their form, signed and stamped with the "company" stamp, or on a letterhead and can check the status of the firm, department and official before accepting it. It can only be mailed back, or faxed.

It's just a few elementary precautions to avoid someone having his mate in another office do it for him.

So the employer reference document that was given to us by the mortgage consultant for my husbands Manager to complete will be asked for again because it could be fake? What was the point in giving it to us in the first place I wonder??

Bon33

Bon33 wrote: »

So the employer reference document that was given to us by the mortgage consultant for my husbands Manager to complete will be asked for again because it could be fake? What was the point in giving it to us in the first place I wonder??

Thank you for your input, I hope I am not coming across as difficult but it is very annoying that the part of my husbands salary that is assured as the basic element won't be considered as it is not called "basic salary"..... It's crazy..... Are all mortgage companies like this?

kingstreet

We have a client who has just been offered by Nationwide.

He has a shift allowance which has been part of his income for 15 years. We provided 3 months payslips and his last P60 and they were happy with it.

They didn't even request an employer's reference.

Bon33

kingstreet wrote: »

We have a client who has just been offered by Nationwide.

He has a shift allowance which has been part of his income for 15 years. We provided 3 months payslips and his last P60 and they were happy with it.

They didn't even request an employer's reference.

So this is a very similar to my hubby. So what in your opinion is the best way to go about this if we are not using the letter?

Thank you

kingstreet

Tell them this is a normal part of his income and is the same amount month in, month out.

Provide latest three months' payslips and P60.

Find name of individual to receive reference request, if Nationwide decide they want one.