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Decision certificate from Northern Rock mean anything?
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wigwam_salesman
Posts: 48 Forumite
Our mortgage has been approved by Northern Rock (they were fine with my £400 default and we have a "decision certificate" saying how much they will lend us). Our broker has double checked twice with them that we don't need any more credit scoring etc and is confident we will have no problems at full application.
However I have heard people saying Northern Rock are notorious for pulling out at the last minute and wondered if I could get some second opinions from people with experience on this please.
However I have heard people saying Northern Rock are notorious for pulling out at the last minute and wondered if I could get some second opinions from people with experience on this please.
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As long as your broker makes sure that all the info in the Agreement in Principle application stacks up with the payslips etc that you need to provide I would expect that he is correct.
Have to say that I have not known Northern Rock to reverse a decision for no apparent reason - if all is put on correctly in the first place, things go pretty smoothly with them on my cases.I am an IFA (and boss o' t'swings idst)You should note that this site doesn't check my status as an IFA, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
I had dealt with NR a few times and never heard anything like that happening. If you had the AIP and then the offer of loan then they are agreeing to giving you the money. Not sure if there is anything that they can go back on their decision (probably is somewhere though!) but check and make sure.
Don't worry too much about it and try to look forward to moving house if it is a new purchase you are going with them for."Life may not always be the party you wish for, but whilst here you may aswell dance"!!!
Murphy's NMPC Memb No 239! Dippychick's De-clutter club Member No 6! - onto room no 2!
My Avatar? Arnie and Casey, proud parents to Storm and Tsu born 19/01/2009!!! - both now in new homes and called Murron and Burger!0 -
One thing I have noticed is that although my mate gets 22,000 a year he can only prove 20,000 looking at his payslips. Will NR just reduce the amount they are offering us or will we need to do the application again?HelpWhereIcan wrote: »As long as your broker makes sure that all the info in the Agreement in Principle application stacks up with the payslips etc that you need to provide I would expect that he is correct.0 -
Depends where the other 2k comes from - if its like once a year bonus for example, then a p60 or employers ref will confirm it but it will only be taken at 50%. If its a cash payment for overtime so it doesn't get taxed, then your loan will be based on the 20k he can prove.Number 86 - Stole a car from a one legged woman... I'm just trying to be a better person0
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