mortgage offer ,nationwide

javorb

finally after 6 months i finally have a mortgage offer from nationwide,when they say jump through hoops believe me it is the worst experience i have ever had,santander who are my current lenders were a total waste of time ,with a mortgage then 2 additional loans to change my property from being uninhabited since 1997 to a 2 bed cottage with partially completed extension making it 5 bed ,we have changed the value from £95k to £220k in less than 2 years with mortgage of £76K AND LOAN FOR £15K,to complete the extension which would see the value jump to £270k,we need a remortgage of £145k,due to their affordability we only managed to get £124k but we can topup with secured loan ,i had to do the remortgage in my own name as my wife has a default from 4 years ago ,2 years ago we had 6 defaults on our credit file and managed to get the santander mortgage then the 2 further advances ,so with 1 default left we thought santander would remortgage us ,but they mucked us about for about 5 weeks then said no .thank god we got one with nationwide ,we can now finish our home ,i know there is risks in lending but it has gone too far in the wrong direction ,we passed the affordability with santander but with the default they said no ,in the end we shall a mortgage/loan for 145k and finished value of 275000 approx 53% ltv what a big risk we must be !

lawriejones1

You're obviously distressed but I would be concerned at one default, let alone a6.

My suggestion would be to be happy things have worked our, chalk it up to experience and try and figure out where the return, space and punctuation keys are on your keyboard.

somethingcorporate

You sound like quite a risk given the number of defaults and complexity of the situation.

Glad you found a lender that could accommodate.

Granted I have just gone for a port and top-up of my nationwide mortgage and it was done and dusted with offer letter in hand in less than 2 weeks from full application. Excellent service!

javorb

what is risk ?yes i made mistakes in the past that caused my defaults but i have learned to live within my means ,does that mean i should never get credit? getting into debt problems has been a hard lesson for me but if i count up the amount of ppi /bank charges i have been reimbursed with i would never of had any debt .debts are not all about overspending ,it can also be triggered by illness/loss of job .i have never missed a mortgage payment and have been in full time employment for 30 years

javorb

lawriejones1 wrote: »

You're obviously distressed but I would be concerned at one default, let alone a6.

My suggestion would be to be happy things have worked our, chalk it up to experience and try and figure out where the return, space and punctuation keys are on your keyboard.

i do not have any defaults ,my wife has 1 from 4 1/2 years ago ,my point was we got a mortgage and further advances 2 years ago but now with 5 defaults less santander would not remortgage us ,even with the low ltv

kingstreet

Abbey/Santander changed its criteria some time ago (but less than two years ago, Jan 2012 rings a bell) and no longer lends to anyone with adverse credit.