Nationwide mortgage after BR

boltonangel

Hi,

I'm looking for a bit of light at the end of the tunnel!

I was declared br in June 09 and received ed in dec 09.

Since this time myself and my husband have saved £20,000 and are now wanting to buy a house. We haven't had a mortgage since 2007 so are classed as ftb again. We've seen a new build at £215k that we like and we qualify for the help to buy scheme as well as the developer 'putting in' 5% towards a deposit.

The IFA put an application through to nationwide yesterday but it declined. He asked for a copy of my ed certificate to send to the underwriters but I'm just wondering if there's any point getting my hopes up or if I should forget about it.

Does anyone have any experience of Nationwide post BR?

Tia

boltonangel

The ltv will be 75% max thanks to the help to buy scheme. Ideally we'd put in around £15k

tigerfeet2006

Just do a search on Nationwide on the BR board, there are several people who have had luck with NW. They seems to be amenable to past BR.

elsnraeh

We are looking for a house just now, but struggling all seems to be small flats or massive houses no middle sized houses.

Anyway we are hoping to borrow with nationwide after the 6yrs passed in Nov, we are looking to buy at around £175000 and have a 15% deposit.

I have spoken to a mortgage adviser and he did say he thought nationwide should be an option for us at a 85%LTV.

We earn 54000 between us.

Was the monthly payments well within your budget as I know that counts for a lot more than it used too.

Blonde29

Hi,

I went BR back in 2008 and had my house repossessed in 2007.

My husband and i are now getting a joiny mortgage. I went bankrupt before i net my husband and he already has a mortgage in his sole name and has done so for 10 years.

We have submitted a mortgage application to NW through a financial advisor but before he submitted the application he called them and explained my history, NW however still advised him to submit the application and it was referred to their underwriters on the 9th Feb. They asked for docs Inc last 3mths bank statements, wage slips etc.

We were told on Friday that someone will bow be looking at the documents we sent to them back on the 9th Feb tomorrow so we have had a long wait. I'm just hoping it's going to be good news.

They said our affordability is 183000 and we have seen a house for 176995 and putting down a 10% deposit so they will only be lending 158400.

elsnraeh

Blonde29 wrote: »

Hi,

I went BR back in 2008 and had my house repossessed in 2007.

My husband and i are now getting a joiny mortgage. I went bankrupt before i net my husband and he already has a mortgage in his sole name and has done so for 10 years.

We have submitted a mortgage application to NW through a financial advisor but before he submitted the application he called them and explained my history, NW however still advised him to submit the application and it was referred to their underwriters on the 9th Feb. They asked for docs Inc last 3mths bank statements, wage slips etc.

We were told on Friday that someone will bow be looking at the documents we sent to them back on the 9th Feb tomorrow so we have had a long wait. I'm just hoping it's going to be good news.

They said our affordability is 183000 and we have seen a house for 176995 and putting down a 10% deposit so they will only be lending 158400.

any advance on your offer? Was keen to hear how you got on?

tonyranks

i beleive once your name is of the register and credit files you might be in good chance

Blonde29

elsnraeh wrote: »

any advance on your offer? Was keen to hear how you got on?

Hi,

Sorry for late reply, after nearly waiting 5 weeks they decided to decline, NW were absolutely appalling. They lost documents which delayed them looking through our application even further etc.

They basically said due to my background i would need to put at least 20% deposit down, now why the hell did they just not tell us this is the 1st place, as they said looking at affordability we could afford the repayments for the house we needed!!!

Total waist of our times, applying for a mortgage is stressful enough without having added stress.

I know they treat everyone's case individually, but the level of service (well we didn't get any service) was shocking. TBH i'm glad it didn't go through if this is the way they treat their customers.

I just wouldn't like other people to experience what we went through!

Hope everyone else manages to get on ok

elsnraeh

Really sorry to see your update. We have had an offer excepted on a house with a 15% deposit. DIP came back no probs saying we could borrow nearly 100k more than we need ( a ridiculous sum of money that we would never have been able to afford). Have applied through accord mortgages part of Yorkshire bs. Apparently we should know by wed!
I feel sick. Desperate do buy this house. Don't know where we will turn if we get declined.

Blonde29

elsnraeh wrote: »

Really sorry to see your update. We have had an offer excepted on a house with a 15% deposit. DIP came back no probs saying we could borrow nearly 100k more than we need ( a ridiculous sum of money that we would never have been able to afford). Have applied through accord mortgages part of Yorkshire bs. Apparently we should know by wed!
I feel sick. Desperate do buy this house. Don't know where we will turn if we get declined.

Really pleased you have been excepted

We have our house up for sale atm (my husband owns the house we currently live in, mortgage is in his sole name).

Because we want a bigger house, we need to apply for a joint mortgage as what we need to borrow they will not just give to my husband.

We are saving hard at the moment but once we sell our house we will be moving in with my mother-in-law just so we can save more. We are also looking at the help to buy, which we will be eligible for, as we will be classed as 1st time buyers again due to us not having a property when we come to apply for a joint mortgage.

I have been on the phone to both CAB and Money Advice Service, they have both advised that we will get a mortgage but we need to use a broker that have the service to view all of the market for lenders. I am feeling quite positive again plus it will be best that i wait until after this September as it will be then 6 years from the date of my discharge and 7 years from the date of Bankruptcy.

Good luck with everything :j:rotfl: