Advice - wrong details on application.

lb364

I'm a FTB but this is my 2nd mortgage application (first one expired) with the same place (NW). Last time I went for a meeting with their mortgage advisor and everything went smoothly but this time not so much.

I contacted my advisor from last time to ask them the best way of re-applying/continuing the previous application and they just wanted to know of any change in salary etc. so I sent them all the details but was told they couldn't lend as much as I wanted, which wasn't confirmed by their online calculator. When I queried it they run the figures again and came up with a higher amount, still not as high as the online calculator but doable in terms of budget (at a squeeze).

Having just accessed the application through my online bank, I have looked through the summary and found about 10 mistakes :eek:

These range from switching mine and my OH's details halfway through (as we are labelled applicant 1 and 2) to having no mention of our bonuses which is presumably why the figures were different.

I now don't know what to do, I don't want to hold up the application or annoy anyone by pointing it out but surely if they are doing their jobs properly someone along the line will query why half the details are wrong? It would also make things a lot easier if we could borrow the higher amount...

Has anyone else had this problem?

kingstreet

Is this Nationwide, or NatWest?

mrsmchapman

My husband has a mortgage with natwest which we are porting to another house and he has never been able to use his car allowance or bonus they would only accept his salary.

What other mistakes have you found?

lb364

Nationwide. Oops, never thought it could mean NatWest!

I don't know if Nationwide accept the bonus/overtime as part of the application but they do ask for it?

Some are minor and (hopefully) harmless but: They have put us both down as owing £2k on credit cards, which will be paid off when I actually owe nothing and OH owes a different amount. There's no mention of student loans. The property is listed as terraced not semi-detached. The mortgage payments are set to come out of my current account instead of our joint one...

mrsmchapman

Maybe you need to call them and highlight all the problems on the form and take it from there

Yorkie1

I'd have thought better safe than sorry and would let them know asap.

kingstreet

Ask your adviser to submit a Material Change Form to correct the errors you have spotted. Nationwide does accept some element of variable earnings where they are backed up by payslips, P60 and/or Employer's Reference.

Ensure they know the card debt is to be cleared. That will impact affordability.

lb364

Thanks for the advice, I'll call them tomorrow