Nationwide shared ownership mortage

missmortgagehunter

My partner and I are looking to buy our first home. Shared ownership with a 15% deposit meaning the amount we need to borrow is £78,200. My credit rating is good, his is excellent. The only thing holding me back is a recent missed payment on a phone bill. Do you think I should give up hope? Or give it a go with nationwide?

Loopy28

All lenders have different criteria. We have ours with Santander, who I know also do shared ownership mortgages and I recall in their lending literature it mentioned that there could be a certain number of missed payments on credit commitments. So one missed payment doesn't mean Nationwide will say no, or even if they decide not to, you could still get a mortgage elsewhere.

You could always use a broker if you are having difficulty as they will have an idea who will accept you, I know it is an additional cost but better than not getting a mortgage at all. Alternatively you could use a broker like London and Country who are free.

I decided to use a broker and while it is costing me £350 instead of going direct, I missed lots of lengthy affordability interviews and the application sailed through, so was worth it in my case.