Nationwide - unsecured debt?

TravelBugHappy

Hi

I want to apply to nationwide for our mortgage but I'm not sure if that's advisable. We have no debts except 20k PCP for our car - repayments are under 400 per month.

Nationwide affordability calculator shows we could lend a lot more then we need (approx 85k combined income) but I've read that Nationwide still decline if there's high levels of unsecured debt (which I presume this is).

Any advice, particularly from brokers that deal with them or people in similar situation recently applied with nationwide?

Many thanks

TravelBugHappy

Just to add, we haven't found a house yet but probs looking at approximately 250k 5% (not a new build), we have saved the deposit ourselves (not gifted - if that helps?)

betmunch

Not applying is the same result as being declined in the end. If they have the product you want the only way you will find out if the car finance is a problem is to get the AIP done.

TravelBugHappy

Thank you, just wondering whether it would be better to apply to a safer bank instead - because ultimately id prefer to have any mortgage then no mortgage hmmm

betmunch

If Nationwide say no its doesnt mean the next option will also say no.

As long as your not going to go traipsing round the high street getting credit checked by all and sundry it will be fine.

TravelBugHappy

Thats true thank you, wasn't sure whether they where a definite no no with a big loan.

We've delayed looking for a couple month so that we can repay an underpaid tax amount (both employees so don't know how this happened) & also repay the last of a student loan (4k). so hoping that will help us.

Looking forward to actually being able to apply