Why do Nationwide need my pension statement?

Halle71

Nationwide have been a nightmare.
Lost our docs
Forgot to ask us for docs
Ask for the same docs ver and over. And over.
I send them 3 months bank statements as one PDF and they tell me they only have page 1 & 3. It's all in one sodding document.
Put down that we are buying a new build so we have to start our application again post MMR

Anyway, I've never been asked this before but the latest hoop I've had to jump through is to supply details of my pension.

Why is this? Because it's another outgoing (ie a 'negative) or to check I am preparing for my old age (random)?

GMS

What age are you planning on the mortgage running until and how far away from retirement age are you now?

Halle71

GMS wrote: »

What age are you planning on the mortgage running until and how far away from retirement age are you now?

Ah, that'll be it - our current mortgage term is due to end when I am 65.5. Explains why my toy boy partner hasn't been asked for his :rotfl:

If I don't pay enough could this be a problem? I pay a significant amount but probably not as much as I should be doing.
We're only borrowing 1 x joint annual salary at 24% LTV and we also have a BTL (my real pension) where rent is double the mortgage payments.

ethank

Most people working now are not retiring to at least 66, 67, or 68 - If you are less than 60 - it's 66!

kingstreet

According to criteria, all Nationwide requests when exceeding state pension age is evidence of payment to a pension and your payslip, if it evidences that, is good enough.

TBH, I get the feeling Nationwide is currently making it up as it goes along. I've not seen the current levels of uncoordinated nonsense for a long time.

Halle71

kingstreet wrote: »

According to criteria, all Nationwide requests when exceeding state pension age is evidence of payment to a pension and your payslip, if it evidences that, is good enough.

TBH, I get the feeling Nationwide is currently making it up as it goes along. I've not seen the current levels of uncoordinated nonsense for a long time.

I've sent my bank statement with 3 months of payments to Scottish Widows.

I'm glad someone else has noticed. We are only borrowing an additional £30k and as you will see from above, our total is beyond manageable (we could pay 3 x our mortage and still have money left over for steak, swimming lessons and a third baby if we so choose :rotfl:) yet every time we produce something we get the response 'now 'it's' asking us for.......*insert any arbitary document*'.

BlueberryB

Halle71 wrote: »

Nationwide have been a nightmare.
Lost our docs
Forgot to ask us for docs
Ask for the same docs ver and over. And over.
I send them 3 months bank statements as one PDF and they tell me they only have page 1 & 3. It's all in one sodding document.
Put down that we are buying a new build so we have to start our application again post MMR

Anyway, I've never been asked this before but the latest hoop I've had to jump through is to supply details of my pension.

Why is this? Because it's another outgoing (ie a 'negative) or to check I am preparing for my old age (random)?

Oh Goodness what a nightmare Halle!

We too are with Nationwide and are buying a new build which is not ready to be completed until October. We had the valuation done yesterday so just waiting to hear back. Have you had yours yet?

I hope you are not waiting too long now, we had to send out 12 months of bank statements on Monday! they were all printed off online banking so i am just waiting on the......."where is such and such page"

betmunch

kingstreet wrote: »

TBH, I get the feeling Nationwide is currently making it up as it goes along. I've not seen the current levels of uncoordinated nonsense for a long time.

Can I second this.

I will not be using Nationwide with giving the client a huge health warning before putting in an application.

They dont have a clue what they are doing right now.

My only case in with them currently had the survey done on the 2nd, they have only now decided to chase it at my request!

Halle71

betmunch wrote: »

Can I second this.

I will not be using Nationwide with giving the client a huge health warning before putting in an application.

They dont have a clue what they are doing right now.

My only case in with them currently had the survey done on the 2nd, they have only now decided to chase it at my request!

B*gger. We have to stay with them because of a large-ish ERC.
'Luckily' the mortgage is one of our lesser worries as our buyer has pulled out after failing the new criteria post MMR and we're desperately trying to find another before we lose the one we are buying.

We want to remortgage in November when the discount on the existing portion on our mortgage (£125k) runs out and they have told us that, even if we pay the ERC on the new amount (£30k) we will never be able to amalgamate both if we stay with them. Is this normal or 'Nationwide'?!

JJozzy

Oh dear, this doesn't sound good. I am waiting for an offer from NW, they have asked for wage slips back to 2012 to show bonus, but bonus is irrelevant as salary more than meets the amount I want to borrow, but I have sent what they have asked for, via broker I have also heard from their solicitors who have sent me all their forms, mortgage deed etc but I have not had the offer yet....not sure if this is normal......?? This is for a remortgage.


Thanks