Nationwide DIP, Take Fee then Decline

kingstreet

mollykins4 wrote: »

we have been with the nationwide for over 20 years , we want to move , when I rang thme they said we had to have a credit check , despite us not wanting to borrow anymore, just move the initial mortgage , they have declined , so where do we go from here

You can't move a mortgage from one property to another.

You're applying for a new mortgage and the usual checks are carried out.

As suggested, speak to an independent broker after obtaining all three versions of your credit file.

Thrugelmir

melanieK80 wrote: »

They new this when they agreed the DIP so why take our money then decline?

So when you applied for the DIP was your husband named as a dependent or not?

kingstreet

melanieK80 wrote: »

L&C said it was because I was the only one on the mortgage, but the child tax credits had both our names on

So why did the broker not check the lender's criteria? It's common knowledge benefits in joint names have to accompany a joint application or they will not be taken into account.

Presumably, the broker was trying to get round affordability issues by submitting a sole application when you would have been restricted to a lower loan amount if he had been a joint applicant?

Sorry, but you can't have your cake and eat it and the broker should have known that.

They should repay the £99 booking fee, IMHO.

melanieK80

The first application was re-mortgaged with just my name as it currently is with Halifax. This was because my husband was self-employed and was advised by our then mortgage that proof of self employment was a tricky issue and to rush the house purchase it would be best to leave him off. They aknowledged we were both on the TC award and took into account only half the amount on this basis.

I don't know why the broker didn't mention this was an issue. In fact before I was informed it had been declined, they emailed asking if I could have his name removed off the Tax Credits award, and that Nationwide needed this within 7 days!?!?! Obviously I said no, as it was a joint award. I thought this was a strange request.

This was the same day the valuer didn't show up at the house. When I contacted them that evening I was informed it had been cancelled. I emailed L&C and said "Am I right in thinking the application has already been cancelled then?" (and explained the valuer cancelling),

He came back with "They declined the case with no warning to me"

My husband was originally not on the mortgage app and was full-time carer of the kids, with his small amount of self-emp income as 'Other Income' apparently.

melanieK80

Not had a reply back as yet about what was submitted to Nationwide.

I was warned about using L&C but trusted the ME review about them being the leading broker service... haha just my luck :S

Thrugelmir

melanieK80 wrote: »

My husband was originally not on the mortgage app and was full-time carer of the kids, with his small amount of self-emp income as 'Other Income' apparently.

Poor advice on behalf of the brokerage. As not the way to circumnavigate the affordability rules. Sticks out like a sore thumb.

melanieK80

I raised a few questions 2 days ago about his self-employment ect. on his new application and not had a reply back. I have since recieved confirmation it has been submitted, wrong solicitor on AGAIN! They've put their preferred down. Im still getting chase ups from the first time. They have put that our house has no off road parking or garage.... it does, it has both. I have now requested he responds to my previous email and pointed out that there are errors on the application. Also that I am requesting refund of the first fee charge as there was errors made on either L&C or Nationwide.

Driving me crazy. He hasn't asked about any day to day outgoings either, just asked about travel expenses, water bill & council tax???
Basically charged through the application questions over the phone the first time. As he is the expert I trusted the questions he asked and the details he requested. And second time round he has just copied and pasted the first application with a few alterations to my OH details.
I feel like I am just a commission on his wage slip as opposed to an actual customer. So much for "Advising" me.

kingstreet

melanieK80 wrote: »

He hasn't asked about any day to day outgoings either, just asked about travel expenses, water bill & council tax???

In the broker sector, Nationwide only asks about;-

credit commitments
council tax
buildings insurance
travel
childcare
ground rent & service charges (if leasehold).

It uses the ONS averages for everything else.