Nationwide, it was all going so well.......

cmorrison6

Hi FTB with my girlfriend.

offer accepted on house 7/03/13
DIP and full application to nationwide 8/03/13
Valuation carried out 11/03/13
Satisfactory valuation received 12/03/13

Now today I've had a phone call from my IFA to state that an underwriter has referred our application on affordability criteria.

My salary £26780
Shift allowance of 42% = £11220
GF salary £10300
House price £151500
Deposit £15150
Mortage required £136350

Total Financial commitments (2cars £430 a month)

Now the underwriter has came back and said that we are £3000 short on the affordabilty calculator. They have stated that 42% of my salary only equates to £8000.

It is clear that all they have done is looked at last years P60 which was £34500 and not even looked at my recent payslip from last month, which shows current earnings to date of £35520 with another months pay to come.

They have now requested an employee reference.

Both me and my IFA are fuming that they can't even see what is right in front of them. We haven't lied about anything. Sorry for the rant but just wanted to vent my frustration.

My IFA has requested a call back from their business manager but I doubt he will get a call anytime soon.

Dave_Ham

Nationwide are pretty straightforward to deal with, unless unfortunately there is an issue.

I would think speaking with BDM should resolve this, but you can turn an employers reference around pretty quickly so would suggest you focus your efforts on this.

All the best

lee111s

While the IFA is looking at it get onto your employer anyway for a refference as Dave has said. You're not going to lose out by requesting this and it could save you some time should Nationwide insist on it.

kingstreet

Nationwide will request the information they want, in the format they want. The applicant should not request a reference himself.

Dave_Ham

Apologies, I was broadly speaking.

They will request it (usually written) but I meant chase the person who will be confirming it. I have seen employers/HR teams take a week or 2 for a simple reference, so that was where I was going with the chasing this up.

Good luck

kingstreet

Dave_Ham wrote: »

Apologies, I was broadly speaking.

They will request it (usually written) but I meant chase the person who will be confirming it. I have seen employers/HR teams take a week or 2 for a simple reference, so that was where I was going with the chasing this up.

Good luck

I was responding to lee.

Wywth

cmorrison6 wrote: »

...They have now requested an employee reference...

So what's the issue?

Warm up your HR department today that a request is on it's way.

Hopefully they will receive it Monday and answer it same day. Keep onto your HR to check on progress.

If your employer confirms your numbers, then I don't see what the issue is

Crashandburn

One thing you do want to make sure is that the HR dept tick the box to say that the extra money will be ongoing. If they don't tick this box, they totally disregard the extra money you get.

I would say this is the fault of the IFA. If he was intending to use your year to date figures rather than last years, he should have said so on the day of application to go for a reference straight away.

In saying that, their systems could have pick up other items on the credit file ie small balances elsewhere which could have pushed it out of affordability. £3k isn't much and your reference will easily back this up.

Good luck

cmorrison6

Spoken to my IFA again and the problem is the underwriter has taken my shift allowance that gets paid under the name flat rate as overtime and not shift allowance so they have halfed it.

I've spoken to my HR department and all they can confirm with these generic salary reference requests is my start date and basic salary.

Nationwide have stated they just want confirmation that my flatrate is shift allowance and not overtime. I will need to speak to the head of HR on Monday to see if they will provide a letter describing the breakdown of my pay.

In the meantime I have found my contract I had to sign when I went on shift in November 2009 which states a shift allowance of 41.8% on top of my reference salary. This has been sent to nationwide.

Worst case scenario is I need to borrow source £3000 which I could do but obviously would rather not. I'm just a worrier and just want everything to go smoothly.

Thanks for the replies and I will update this thread with any progress made.

cmorrison6

After nationwide receiving my employee reference they complained twice about certain wordings of the reference. The last reference was faxed on
Thursday and I received the formal offer text message today. I'm absolutely delighted and relieved!

Crashandburn

:T

Seems as soon as you start getting humans involved, it all goes wrong