We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Re-doing a DiP - impact on credit?
Cleverclogs
Posts: 101 Forumite
Hi, some advice please. My husband & I are FTBs & have a DiP from Nationwide for a Save to Buy mortgage with 5% deposit. We had an offer accepted on a house 3 weeks ago, but we are waiting for the vendor to find a property to purchase. I think they've exhausted the current market so chances are we could be waiting weeks/months for them to find a property & for the chain to establish, and are at risk of our DiP expiring.
Nationwide did a full credit check at DiP stage, and will need to do another should we have to re-do our DiP. Could anyone advise on the impact this could have on our mortgage application? Ie: is it likely to affect the amount we can borrow (we're not borrowing anything close to their offered amount), or are there other implications?
Nationwide did a full credit check at DiP stage, and will need to do another should we have to re-do our DiP. Could anyone advise on the impact this could have on our mortgage application? Ie: is it likely to affect the amount we can borrow (we're not borrowing anything close to their offered amount), or are there other implications?
0
Comments
-
They did this to me (or rather, us) when we got a mortgage. I have no idea how it affects things for that lender, but there was no problem. We were similarly well within affordability, with good history and the rest. I wouldn't worry about it too much.0
-
Don't apply for any new credit or allow any scores and pay everything in full and on time.
Nationwide will then find on their next score what satisfied them on the last one.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards