Nationwide Mortgage Interview

Ggrw104

Hi,

I'm due to have a two and a half hour mortgage interview over the phone with a mortgage consultant from Nationwide tomorrow. We're porting our existing mortgage and borrowing an additional 70k for our new purchase.

They've said we need to have payslips and one month's bank statement, just wondered how they expect to see this information over the phone?

Also if anyone has any insight on what questions they might ask that would be great!

The last time I applied for a mortgage you just had to fill and send in a form.

Thanks

PaulC5

I would also like any information regarding this I have my 2 hour slot this Friday morning with my current mortgage lender (NatWest) to port to a new property.

nuzik

they treat it like a full interview that would be face to face, scan in your payslip so they can attach it to the case (you can send it via email). bank statement will help with costings.
Usually few questions about you, check plausibility of all the information you give them. Followed by some questions on mortgages and then its on to advice and data entry of the case. 2.5 hours is the slow booked.

amnblog

Why do borrowers still submit themselves to giving up two hours or more of their time in order to obtain limited options and inferior service?

nuzik

why are nationwide and natwest mortgage advisers inferior?

amnblog

The service is inferior to what is available via an independent broker.

nuzik

why would the service be inferior? That is like saying all brokers are crooks?

The only difference is the amount of products available.

topcat007

What happens in the interview do they offer you a selection of products which they think will fit you best ? Or say you will have this product there is no choice ?

Still got a while until mine !

amnblog

The adviser in the bank has one set of products, one set of criteria, excessive compliance requirements - that affects service.

Fizzy11

I am not an advisor but work for independent brokers & only they can find lenders that fit each persons criteria rather than any bank who only have their criteria.

I always tell friends to use an Independent Broker which is exactly what MSE says.

Red-Squirrel_2

amnblog wrote: »

The service is inferior to what is available via an independent broker.

Not everybody wants or needs to use a broker though.

I'll probably go to a broker for my next move, and nobody will deny that they do provide a valuable service, but I've twice gone direct to lenders in the past and had perfectly straightforward stress free experiences and good rates.

There's more than one way to skin a cat, as they say!