Decision in Principle to Formal Mortgage Offer

lordklp

Just wondering people's experience - I have managed to secure a DIP from Nationwide for a new mortgage (good news!) - but this isn't a mortgage offer as i won't complete the full application until the sale of my existing house is complete.

My question /query is, is there anyway of knowing how likely you are to be accepted for the full mortgage given the DIP? The DIP included a credit check, and details of outgoings / etc.

Nothing is likely to change in terms of those either, nor is income likely to fall, but i wondered if anyone had information on the number of times a DIP is successfully converted into a full mortgage with the same positive result given today's climate?

L

P.S. In my view it's time bring back common sense lending....

Gonzo33

To be honest I don't think I have ever had a mortgage declined which has been accepted at DIP stage with Nationwide.