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Nationwide Mortgage - advice needed
mjb1974
Posts: 21 Forumite
I have a DIP from Nationwide for a mortgage for £128,000 in a shared equity new build with persimmon based on a 5% deposit.
On the DIP they are asking for:
Most recent payslip
P60
Proof of address
Proof of ID.
Salary is £48,000 basic with £10k bonus earned last year and same again due this May.
I currently have just over £1000 balance on a credit card with a limit of £4750 (with Nationwide) and an unused £400 overdraft on my Nationwide Current Account. These are my only credit commitments.
No missed payments, defaults etc and all aspects of my credit file are up to date and paid.
The only thing I am worried about is that I have used pay day loans in the past year and although all fully paid on time with no issues I am worried this could lead to my application being rejected.
Is this a distinct possibility and if so are there any other avenues I can explore if I am rejected?
Application is going in this week.
On the DIP they are asking for:
Most recent payslip
P60
Proof of address
Proof of ID.
Salary is £48,000 basic with £10k bonus earned last year and same again due this May.
I currently have just over £1000 balance on a credit card with a limit of £4750 (with Nationwide) and an unused £400 overdraft on my Nationwide Current Account. These are my only credit commitments.
No missed payments, defaults etc and all aspects of my credit file are up to date and paid.
The only thing I am worried about is that I have used pay day loans in the past year and although all fully paid on time with no issues I am worried this could lead to my application being rejected.
Is this a distinct possibility and if so are there any other avenues I can explore if I am rejected?
Application is going in this week.
0
Comments
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You have a DIP, so any payday loans would have been detected, you are worrying too much, don't let the scaremongers on here worry you, from what you have said your application should fly through.I am a mortgage adviser.You should note that this site doesn't check my status as a Mortgage Adviser, 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
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Nationwide is accepting 5% deposit on shared equity now?
I thought it was 10% minimum.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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