Concerned I may not get a mortgage

kingstreet

When will the property be ready?

Halifax offers last a lot longer than most. Nationwide is six months from date of valuation, with only a two week extention possible.

gestion

It's the HTB Equity Loan.

Property is all ready to move in. Aiming for a quick completion. Should be moving in on 16th Feb if all goes well.

chanz4

word of warning you cant fully trust Halifax aip, and they DO checked regular inc a few days before for extra lending

gestion

No updates on this so far, really.

I'm currently waiting to receive my SA302s from the HMRC to prove my self employed income (to reiterate earlier comments, it's not my primary income). The Nationwide DIP decision was referred to an underwriter, and they want to see originals of the SA302 before the decide further.

Finding it quite frustrating that in this day and age, companies won't accept electronic copies of things. The info from an SA302 is available to download, and I have provided that. I've also requested the HMRC fax a copy to the mortgage broker, but I expect that won't be good enough either.

I don't mind too much for a full application, but it does seem overkill for a decision in principle (that they could always go back on if I can't produce the original).

amnblog

Nationwide will always seek background information in order to reassess a DIP that was not an automatic pass.


Halifax will do a deeper search at application stage and the case could fall over at that point.


We have been successful in recent weeks in placing a number of H2B equity loan cases with mild, historical adverse; so they can de done if handled correctly.

gestion

Seems like we have a DIP with Nationwide This seems like good news.

Teaandtoast0124

Hi gestion. How many defaults do you have on your experian credit report? Did you pass credit check with nationwide? Im applying on 2cnd of feb and very nervous

gestion

Turned out there were 4 accounts marked as Default on my Experian report.

Amazingly, two of those have very incorrect information that the accounts are open and I still owe a couple of hundred pounds on them.

The DIP decision got referred to an underwriter, so it certainly wasn't an automatic pass on the credit check.

Although I told my broker I could provide proof those accounts were no longer active, and they should be marked as Satisfied, I was not asked for this information.

One thing in my favour, though, is they were between 4 and 6 years old (since the default registration date). I think it will depend on a lot of factors, but I must admit to being rather skeptical that it would be successful.

I hear that Nationwide's DIP is more thorough than some, so I may now have a shorter journey until the mortgage is fully approved. There's no guarantees, but it's very encouraging.

Teaandtoast0124

Im sure someone has wrote on here that if a mortgage is referred, and it passes it doesnt need to go to the underwritter. As its allready been done. Dont quote me though

gestion

Yeah, my broker has more or less said the same thing.

If someone can confirm that, I'd be especially interested as currently my wife feels like we're no further forward. Need to cheer her up