Decision in Principle - Nationwide.. help

roasty79

hi, please help.
i am a first time buyer and recently my partner and I received a decision in principle from nationwide after a credit check.
however after talking to an independent adviser he recommended a cheaper rate with Woolwich as we have a 20% deposit - he applied for us and we were denied due to a credit check ( obviously a different one from nationwide)- we have since done our own through experidan and found it was due to my partner missing a few credit card payments over the years ( however one was in March 2012)- his was 913 on experidan and mine is 999.
I am now concerned that we may loose the offer from Nationwide- do they do a futhur credit checks ??
or am i just worrying and as long as our income, references and valuation are ok- everything should be fine????
thanks in advance for help

Crashandburn

If its down to credit score, then I wouldn't worry. Each lender has a different score card. Nationwide only ask if you had rent arrears or gone into arrangements on unsecured credit. If the answer to that is no, then you are fine

Joe_Bloggs

I would have thought the first course of action for any mortgage adviser was to set up a consensual credit check on the applicants before applying for any credit. It saves time if the applicants can be alerted to credit check themselves.

Experian is the correct spelling of Expedian.
Fingers crossed , best wishes.
J_B.

roasty79

Crashandburn wrote: »

If its down to credit score, then I wouldn't worry. Each lender has a different score card. Nationwide only ask if you had rent arrears or gone into arrangements on unsecured credit. If the answer to that is no, then you are fine

thank you are have made me feel better already...

roasty79

Joe_Bloggs wrote: »

I would have thought the first course of action for any mortgage adviser was to set up a consensual credit check on the applicants before applying for any credit. It saves time if the applicants can be alerted to credit check themselves.

Experian is the correct spelling of Expedian.
Fingers crossed , best wishes.
J_B.

thank you , starting to feel less crazy

CBR600F_2

I'm not sure how Nationwide conducts business, but it's not unreasonable to assume that they just did a soft credit check on you for your AIP/DIP, and that when they do a harder, more thorough credit check on your full application, then the missed payments may become an issue.

Afterall, the concencus seems to be that lenders hand out AIP/DIPs like a hooker handing out STDs. You'd have to have a really bad set of financial circumstances not to be given one.

Get copies of your three statutory credit files, identify and rectify any issues on them, and then celebrate by punching a toddler in the face.

roasty79

CBR600F wrote: »

I'm not sure how Nationwide conducts business, but it's not unreasonable to assume that they just did a soft credit check on you for your AIP/DIP, and that when they do a harder, more thorough credit check on your full application, then the missed payments may become an issue.

Afterall, the concencus seems to be that lenders hand out AIP/DIPs like a hooker handing out STDs. You'd have to have a really bad set of financial circumstances not to be given one.

Get copies of your three statutory credit files, identify and rectify any issues on them, and then celebrate by punching a toddler in the face.

Nationwide came up on my expedian search that had performed a credit search on me- does that not indicate a full search?

roasty79

Nationwide came up on my expedian search that had performed a credit search on me- does that not indicate a full search?

CBR600F_2

What were you denied? A full application or an AIP/DIP with Woolwich?

roasty79

A AIP/DIP with Woolwich ! But passed with Nationwide