Nightmare - application falling apart

AMO77

Application still with senior underwriter who has signed off all queries as satisfied but has come back saying Nationwide will only take 2 incomes.
Broker had originally put my salary as
Income 1 salary job
Incomes 2 paye teaching job plus self employed work
This brought me well within affordability and now they are saying they only take 2 when they have known all along .
Please help

Malmo

What does your broker say?

maninthestreet

For the self-employed work, what accounts are available to show the income that it actually generates?

Thrugelmir

AMO77 wrote: »

Income 1 salary job
Incomes 2 paye teaching job plus self employed work
This brought me well within affordability

In your eyes or the lenders? As there's current affordability and future affordability. The sustainability of the self employed income may well be an issue. Something your broker should have considered when guiding you to a lender.

AMO77

Doesn't realise I've spoken directly with NW who unformed me their system will not cope with 2 incomes lumped as one
They require
Income 1: my salary job
Income 2 : paye job
Additional : self employed (for which they have 3 years sa302s
He says he's done this before and it's not an issue
It has also taken NW over 2 weeks to realise this
I have provided all paperwork within a few hours notice whenever requested
This is unfair
Speaking directly to underwriting dept later to resolve
Sorry guys, just want some moral support I guess

AMO77

Maninthestreet I have 3 years sa302a for my self employed
Been in salaried job 10 yrs
And in paye job for 8 yrs

AMO77

NW said I'm within affordability. SE work increasing year by year

AMO77

Just spoke to a very nice lady at NW who actually agreed this situation is farcical and unfair
Broker should not have submitted 3 incomes as their systems cannot cope. Apparently they might (might!) accept salary income 1, paye income 2 and my SE income as additional
It should not, says the nice NW lady, have got this fat without being detected and cost me weeks where I could have placed this with woolwich which would accept it.
Broker is escalating case with BDM and this has become so stressful.
I'm a musician and, in my groups of colleagues, am the sensible one as I have a salary, paye and am self employed whereas they are all mostly SE. If I was just Se with all these jobs this dialogue would not even be happening.

AMO77

Broker just rang after speaking to BDM. He accepts responsibility but also says it doesn't anywhere in NW guidelines that they won't accept 3 forms of earnings. Barclays do apparently.
It's unlikely that NW will work with this (tho I know from another broker who specialises in Clients like myself that they do - wish I'd met him before my current broker!) but we should have a decision by the end of the day. If it's No then we go with Barclays.
This has been a pretty awful month

Let_Us_See

If either you or your broker had used Nationwide's affordability calculator, you would have seen it accepts two sources of employed/self-employed income, but the additional (third) income source relates to non-earned income only.

amnblog

I feel bad now telling you not to worry.


I was not aware you had a 3 income complication.