Nationwide Mortgage

eoghan101

Hi,

I have been declined by Nationwide for an AIP. My broker has told me the code came back saying I had too much debt.
I only have 1 credit card with apox 1350 outstanding.
The loan size is 80,000 and I have 80%LTV.
Broker thinks there has been some kind of mistake.
Please help

HappyMJ

If you have £20,000 cash in the bank are you paying the credit card off in full each month?

eoghan101

I havnt paid it off in full every month,
Ususally I pay at least 400 a month.

FlyingCat

It would depend on salary and affordability I would think?

i.e are you able to pay for the mortgage and all outgoings plus the cc debt? I agree on the face of it, it does not seem much debt, but it's not always that straightforward.

eoghan101

Hi,

The affordability shouldn't be an issue.
It's a shared ownership but all in would be 862 including mortgage a month.
My salary is 34200, I don't have any other debt.

amnblog

Why are you not directing these queries to your broker?

eoghan101

I have, broker is in contact with nationwide trying to find out more.
I guess I am just stressed and looking for advice or info from people who might know more/ been in a similar situation.
If a bank initially decline is it likely for them to reconsider?

amnblog

We will not know more about your case than your broker.

kingstreet

eoghan101 wrote: »

My broker has told me the code came back

Code?

What code?

If it declines for over-commitment is just says "decline" and will not allow you to alter any data.

There's something wrong, somewhere.

Do you have all three versions of your credit file to see if there's an error which needs correcting?