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!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Help With Nationwide Mortgage
Sobewannabe
Posts: 61 Forumite
I was hoping some of you more experienced Mortgage specialists would be able to confirm what I was told at Nationwide earlier this week.
I have a £102k mortgage and I earn £39k with a property value of £155k, I also have £20k additional cash to assist with my move. I have no dependants and no additional borrowings, with a clean credit history.
The Affordablity meeting I had at Nationwide said that they would lend me up to £195k to assist me in my next move up the property ladder.
When I questioned this with the advisor as I said this was close to 5 times my income she said that Nationwide no longer lends on income multiples its now all done on affordability.
Do you more specialist people think that I have been advised correctly and I will be able to get a mortgage of £195k.
I am looking to port my 2.5% BMR of £102k and take an additional new mortgage of up to £93k, and am looking on properties up to £250k,
Many Thanks
I have a £102k mortgage and I earn £39k with a property value of £155k, I also have £20k additional cash to assist with my move. I have no dependants and no additional borrowings, with a clean credit history.
The Affordablity meeting I had at Nationwide said that they would lend me up to £195k to assist me in my next move up the property ladder.
When I questioned this with the advisor as I said this was close to 5 times my income she said that Nationwide no longer lends on income multiples its now all done on affordability.
Do you more specialist people think that I have been advised correctly and I will be able to get a mortgage of £195k.
I am looking to port my 2.5% BMR of £102k and take an additional new mortgage of up to £93k, and am looking on properties up to £250k,
Many Thanks
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.8K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.4K Mortgages, Homes & Bills
- 178.2K Life & Family
- 260.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards