Nationwide Newbuy DIP

droiderm

Had a DIP Application in with Nationwide since Wednesday.

Going through a builders "mortgage advisor" as it's easier, and I can't go direct.

History of Bankruptcy/Reposession.
Just chased it up , apparently it's with a senior underwriter.
Is that normal? I have no trust in these mortgage advisers.
I remembered she didn't ask about previous reposession on Wednesday, I mentioned that today.
She admitted she didn't ask and it wasn't disclosed to Nationwide. She kept saying if it wasn't in the last 3 years, it doesn't matter. Anyhow, she asked someone else and they agreed it was best to disclose it to Nationwide. Really? I could have told you that.
I know Nationwides criteria re: repo is "Not Normally". I assume that's it definately going to be a decline then?

Dave_Ham

If it was not a Newbuy product, I would think you may have a fighting chance.

Not sure you should hold out too much hope, but good luck.

Thrugelmir

All mortgage applications will be reviewed by an underwriter. Underwriters will have different authority limits. Your previous history has most likely triggered a refer trigger in their processing system.

droiderm

As I expected and feared. Thanks both
Very surprised I wasn't asked that question.
In any event its better nationwide know the full facts .

leereni

Sounds like another mortgage advisor issue here. Are you paying any fees?

droiderm

If I don't take their insurance products

droiderm

Thrugelmir wrote: »

All mortgage applications will be reviewed by an underwriter. Underwriters will have different authority limits. Your previous history has most likely triggered a refer trigger in their processing system.

I did ask the advisor if it had been referred she said no .
But I don't think she knows what a mortgage is .

Am I to take any hope from the fact it wasn't immediately declined ?
I guess even then they weren't in possession of the full facts .

droiderm

Still no news today.
I noticed they searched my Experian report on Saturday, I would have expected the decision would be quick from that point.

I know it's going to be 99% a rejection, it's been going on since last Wednesday now, and I just need to know! I feel like your team is in the cup final against a massive club. You expect to get tonked, but it could be one of those days...

Thrugelmir

droiderm wrote: »

Still no news today.
I noticed they searched my Experian report on Saturday, I would have expected the decision would be quick from that point.

Only if people at NW head office work at weekends.

droiderm

Someone did on Saturday, unless Experian is a day out.

droiderm

Just had a call from the broker, apparently is was looking good, "passed the credit score", but they need to look at it again considering the "new information". That's the "new information" the broker should have submitted in the first instance, or at least on Friday.

Apparently the NW BDM was in today, and he doesn't seem confident. I will find out tomorrow.

Oh to be punished for something for life.

To continue the football analogy, it's gone to penalties, my star penalty taker as been sent off, my reserve keeper is in goal injured.