Nationwide mortgage help needed

PLAYBOY

Hi

Me and my wife have been accepted in principle for a nationwide mortgage. I have a small default from 5 years ago (tmobile £55).

They do check your credit file before the principle agreement but will they look into this more at the underwriting stage? My wifes report is unblemished. Bizzarely, my credit score is 999 at experian but I don't trust that.

Also they are asking for 12 months bank statements as I pay rent to a private landlord. My last 3 months statements are unblemished but the 9 before have lots of gambling transactions as I am a matched better who does risk free betting (theres another forum on this site with all that info). I have never been in my overdraft.

Can I send proof instead from the landlord that I paid the rent every month or will they insist on the 12 month statements? Has anyone applied with them?

Thanks

ACG

Ask nationwide what you can send in place of 12 months statements.

PLAYBOY

I asked someone online at nationwide and she didnt seem sure. Just wondered if anyone has any experience of what they accept.

Svenena

I applied for a mortgage from Nationwide and my broker told me they wanted either 12 months bank statements showing rent paid, OR something else, but I can't remember what, because it was something I didn't have. Something like a rent book or a rent statement (still to show 12 months worth of payments). Sorry I can't tell you exactly what it was, but there was definitely another option.

Tried to find it on their website (http://www.nationwide-intermediary.co.uk/lendingcriteria/general/general) but at the very bottom it says

"Tenancy payment history

We do not require you to verify past payment history for any applicant who is currently renting or has been renting over the last twelve months."

Although they wanted it in my case!

PLAYBOY

I could do a internet banking transaction search in the last 12 months with the landlords name and showing all the payments being made to them. It shows the money going out of my account. Would that work? Just a bit wary of them seeing all the transactions to betfair etc.....

kingstreet

The requirement for evidence of rent was ended on 28 July. Twelve months bank statements was only required if you rented via an agent, HA etc and not directly from a private landlord.

Anyway, it has now been withdrawn;-

Removal of requirement to verify Past Payment History for Private Tenants

Following feedback from you we are pleased to announce that from 28 July 2014 the requirement to verify the last twelve months past payment history for the following has been removed:

o Applicant(s) who are or have been Private Tenants through a Local Authority or Housing Association; including Shared Ownership Tenants;

o Applicant(s) who are or have been Private Tenants through a letting agent.

NB. This means that you do not need to verify past payment history for any applicant who is currently renting or has been renting over the last twelve months.

The proof requirement will no longer be generated on all MSO cases started on or after 21 August 2014. For cases started prior to 21 August 2014, where the proof requirement is still outstanding the requirement can be waived and a case note added to explain why.

FlyingCat

PLAYBOY wrote: »

I could do a internet banking transaction search in the last 12 months with the landlords name and showing all the payments being made to them. It shows the money going out of my account. Would that work? Just a bit wary of them seeing all the transactions to betfair etc.....

Just been through a nationwide application and had to provide this.

I supplied 12 months full statements and my partner supplied just showing the rent payments (i.e doing a search for rent transactions).
Nationwide asked for her 12 months full statements

FlyingCat

Never mind, as Kingstreet has indicated it is no longer required.

For what it's worth, I have football bets and poker transactions on my statements over the last 12 months, was not an issue.

PLAYBOY

Brilliant....cheers guys. Has put my mind at ease a bit!

kingstreet

FlyingCat wrote: »

Just been through a nationwide application and had to provide this.

I supplied 12 months full statements and my partner supplied just showing the rent payments (i.e doing a search for rent transactions).
Nationwide asked for her 12 months full statements

That used to really pee me off as well.

They'd accept the page showing the mortgage payments alone for evidence of mortgage payments, but it had to be every page for rent.

Last one of these I did I had to scan and upload fifty six sheets and their max file size is 3 megs, so I had to carefully work out how many pdfs I would have to have as a minimum, to not exceed the max file size.

Glad that's gone. What a PITA!

FlyingCat

Yeah you should of seen the mountain of statements we had to provide!

My payments were over 2 bank accounts as well as I changed accounts. Pretty much destroyed a rain forest with the amount of printouts.