Nationwide -Mortgage Porting

kingstreet

Consent to let?

Where's that come from?

Are you purchasing a property to live in, or are you planning to let that as Nationwide don't do BTL mortgages and consent to let is supposed to be a short-term solution to a short-term problem.

dwill1503

As per one of the previous posts we actually don't live in the house, we rent it out and rent another house in the location we want to live in - the rent pays the rent if that makes sense.

kingstreet

Another reason for "one case one thread" on here.

Multiple threads on the same subject mean you can't see the whole picture unless you know what's gone before.

dwill1503

huh? It is on this thread.

dwill1503

dwill1503 wrote: »

The issue is getting another mortgage with nationwide. We don't think we now meet the criteria because we had missed some payments a couple of years ago on a loan with barclays and also with a nationwide credit card. We now have payment plans direct with both suppliers and make monthly payments on time. Our only reason for selling the house, and i mean only, is to clear the debt and be debt free. We can then sit tight for a few years while our credit file repairs. (We actually don't live in the house, we rent it out and rent another house in the location we want to live in - the rent pays the rent if that makes sense).

We don't want to borrow any more with Nationwide, just move house but they won't even give an agreement in principle. They wouldn't even take our account details to look at the mortgage account as she said it all needs to be done when we've made an offer. it just seems like it could be a waste of everyones time if we then get declined.

I guess we just want to know whether we should be looking at houses to buy or not for the same price or less or not bother.

it is here on this message

kingstreet

Sorry, I missed it completely.

So are you planning to live in this new property you're buying or not?

dwill1503

yes. it will be our forever house

kingstreet

So the CTL has no relevance to the issue and you should get to work with a broker to decide if it's worth spending a credit search on a Nationwide paper DIP (porting is a paper application).

If it fails, you can then look at alternatives with the broker.

dwill1503

Thanks Kingstreet. One final question, any idea where we can find a broker for our needs? Or is just a google search?

kingstreet

Ask friends and relatives for a recommendation.

Failing that try https://www.unbiased.co.uk, switching off the sponsored ads only option so you get a full list for your area.