Do nationwide re-credit check before completion

Teaandtoast0124

Hi, has anyone else experienced a re-credit check before completion with nationwide. I am buying a new build and it will be 3 months from mortgage offer to completion?

nuzik

when its at offer they do not do anything after. However if you change anything or something alters there is always a chance it will be reviewed.

DpchMd

nuzik wrote: »

when its at offer they do not do anything after. However if you change anything or something alters there is always a chance it will be reviewed.

You sure you're a mortgage adviser?

nuzik

DpchMd wrote: »

You sure you're a mortgage adviser?

Yes thanks for your concern.

Teaandtoast0124

Ok. Its just i no that halifax do credit check before completion. Not sure if nationwide were the same. Only reason being is i have used my credit card and there is a balance showing for £2,000 for furniture etc. i have paid this off but wont be off my report in time.

nuzik

did you tell them at time of interview that you had a credit card with a balance on it but it was cleared, im sure they usually ask in the last 6 weeks. I wouldnt worry to much. AS long as it all goes to offer its usually good. Ive never seen them do a new credit check for the same property if the offer has gone out unless rates had changed and you wanted to cancel an application and then it would be assessed as a new case

Thrugelmir

Teaandtoast0124 wrote: »

Hi, has anyone else experienced a re-credit check before completion with nationwide. I am buying a new build and it will be 3 months from mortgage offer to completion?

I wouldn't take any chances. As a recheck takes a matter of minutes.

buttonmoon

Nationwide didn't credit check me before completion just at the AIP stage (that is what is showing on my credit file). I completed in Jan 15 but only borrowed just under 2 x joint income.

To be honest I wouldn't use any credit cards, overdrafts or do anything just in case!

WillyWonga

3 months is a long time from offer to completion. Nationwide could check once a month. It is not wise to say they won't recheck as they can do if they wanted to. Right up until completion they can retract the offer.

nuzik

They can't just run credit checks willy nilly! thats unprofessional and it would leave lots of foot prints. They may asses you but as i said highly unlikely

Thrugelmir

nuzik wrote: »

They can't just run credit checks willy nilly! thats unprofessional and it would leave lots of foot prints. They may asses you but as i said highly unlikely

As the lender is advancing £,000's highly probable that a solitary single check will be be made prior to completion. That's highly professional and what you would expect from a business that's about to lend money to a total stranger.