Nationwide AIP - Shared Equity Scotland

mjb1974

HI,

Looking for some advice here.

I recently applied for and was successful in getting an agreement in principle for a shared equity (90/10) mortgage with Nationwide.

Unfortunately 24 hours later Persimmon changed their minds about the shared equity and pushed me towards a Mi New Homes Mortgage instead.

This resulted in another credit check being carried out (I had done one other in November for a Tesco Credit card which I ended up not taking up).

The Mi new home mortgage was declined and Persimmon agreed to go back to the previous Shared equity deal.

My only worry now is that due to another credit check having being completed my Experian Credit Score has gone from Good (940) to Fair (755).

My Nationwide credit card is slose to its limit of £4500 which I can remedy in a couple of months but I am worried that I now have 3 credit checks very close together.

Will Nationwide run another Credit check at full application and will another credit check being done potentially impact on my application for the full mortgage?

Any help or advice would be greatly appreciated as I am now really worried the whole thing wall fall through at the mortage application.

addyboy1982

If Nationwide have given you an AIP they probably won't credit check you again, assuming you didn't decline their offer and now have to start from scratch with them again.

HTH and good luck

Kca

I would say they might ......AIP mean nothing something's this happened to my friend recently they got accepted for shared equity lift chime house surveyed etc and then bank and full mortage application failed .....and that was due to living in 3 places in 3 years...... Fingers crossed tho x

mjb1974

Kca wrote: »

I would say they might ......AIP mean nothing something's this happened to my friend recently they got accepted for shared equity lift chime house surveyed etc and then bank and full mortage application failed .....and that was due to living in 3 places in 3 years...... Fingers crossed tho x

Thanks for the crossed fingers! First time buyer and knew it would be stressful but not this stressful!

I have had same address for over 5 years so should not have an issue with that. More worried about the number of credit checks that have been run due to the builder moving the goalposts then moving them back again!:mad:

Kca

Aww I no the feeling I hope everything is brill cause it is soooo stressfull let me no tho x