Just been turned down for the decision in principle

frank3030

I applied for mortgage with nationwide recently with 15% deposit and got declined. My iva finished in may 2010 all 3 credit files are up to date no iva showing all green. I am stuck now not sure what to do I don`t think it possible with anyone. I will just aim for 25% and just keep my fingers crossed.

Farside

Yeah it's really hard work isn't it Was the decline done by the computer or from the underwriters? Mine was via the computer over the phone doing the DIP, So the nationwide lady told me i should make an appeal, now it's gone to the underwriters, Maybe you can do that too? But i'm 100% certain mine will fail now as you had 15% deposit lol... i only had 5%

frank3030

I did dip online which might of being a mistake maybe should of gone to the branch. I have there current account and credit card so I thought I might have chance to get one of there mortgages but computer said no no no .:( . I might just give up.

Farside

Do you have your deposit in a save to buy ISA? If i were you i'd call your bank and ask them to appeal it and send your documents to the underwriters

frank3030

Its in mysave account do you think I would have a chance appealing. They must have information about my iva because I got there basic account when I started my iva so that must be the reason I got rejected. I have thought about there save to buy it might be worth asking about it.

Farside

frank3030 wrote: »

Its in mysave account do you think I would have a chance appealing. They must have information about my iva because I got there basic account when I started my iva so that must be the reason I got rejected. I have thought about there save to buy it might be worth asking about it.

i'll let you know how i get on with my appeal, i'd open a save to buy ISA and put your deposit in there, you will need to wait atleast 6 months till you can apply for a mortgage with it, but it allows people to get 5% mortgages so you'd have a good chance i would have thought.

Farside

I have just got an e-mail from nationwide and my DIP has now been accepted after it went to the underwriters to go through my details, So, After this do you think there is much chance i will now get turned down when i go for the application?