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Nationwide Calculators
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Heisenberg87_2
Posts: 85 Forumite
Me and my partner have been saving with Nationwide's Save to Buy for the past year and are now getting close to wanting to buy a property. We have for the past year been using the Nationwide ''How much can you borrow'' calculator and it seems it has now changed in terms of what we can borrow. Before we did my salary which is fixed at (£25,000 py) and my partners salary which is temporary at (£28,000). Nationwide said we could borrow up to £100,000 not including the deposit, this was down to the fact my partners salary is temporary. I have now done the calculators again and it saying they would lend us £250,000. I can't understand why such a big jump in just 4 months of doing the calculators. Can anyone shed any light on this?
Also it used to ask how long have you been with the employer, it now ask how long have you been in regular employment.
Also it used to ask how long have you been with the employer, it now ask how long have you been in regular employment.
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Comments
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I would speak with a broker or at the very least Nationwide direct to confirm. It could save you a lot of time and form filling.0
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It sounds like the calculator was disregarding your partner's income initially.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Yeah sounds about right. I'm on just over 33k and they'd lend me £137k on their calculator. That doesn't mean to say they'd lend that following a full application.0
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My and my partner bought a house 1 year ago, unfortunately we broke up. We have a join mortgages for £125000, also we paid deposit £12500 each so £25000 all together. The property value is £150000. The point is that I do not know how does it work now, my annual income is £16244 without overtime with it is about £20000,I would like to know if I can buy another property without any problems? how does it work when my name will be taken off? please help me, thanks0
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Heisenberg87 wrote: »We're you on a temporary contract?
No I'm full time.
Apologies, I missed that bit in your original post.0
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