Nationwide Mortgage

sieve

If it's any help, I got a mortgage with NW this time last year, with a bankruptcy on my file (from 2009), and a missed mortgage payment (by administrative accident, when my old house sale was completing) less than 12 months beforehand.

85% LTV, 215k value, so similar situation to you.

All the brokers told me I could whistle in the wind, so I decided to give it a punt, and go direct to NW. They referred me, then went through all the proofs, and accepted me a week or so later.

I have nothing against brokers, but the one I spoke to certainly gave me no hope at all. Very glad I decided to do it myself, as we now own the house our broker said we would have no hope of getting for at least another year or so.

aero1

Sieve, did you actually go to a branch or contact them online?
our situation is almost identical to yours and struggling to get a mortgage...

Thanks

sieve

aero1 wrote: »

Sieve, did you actually go to a branch or contact them online?
our situation is almost identical to yours and struggling to get a mortgage...

Thanks

I did it online. It went through everything, and then referred me at decision in principle stage. It asked me to send in 3 months of payslips, 3 months of bank statements, discharge certificate, etc etc - I sent them in, they were looked at, and it then pinged back an accept after a few chaser phone calls to see how it was progressing.

As I understand it, if you get referred (or indeed accepted), they have already looked at your credit file, and know what is on it. So if all is in order with the paperwork you send in, there is a reasonable chance it will go to an accept. But just be honest with them - hopefully you will have a similar experience as I did.

PixelPound

sieve wrote: »

I have nothing against brokers, but the one I spoke to certainly gave me no hope at all. Very glad I decided to do it myself, as we now own the house our broker said we would have no hope of getting for at least another year or so.

Like many things, you need to get a range of advice. My partner is an ex-bankrupt (no longer shows up on CRA checks), so I emailed 4 local brokers from unbiased.co.uk and vouchedfor.co.uk that had indicated they cater for people with adverse credit. One said they'd get back to me a week later (why a week I don't know?), another said it most likely would require a specialist lender, a 3rd said no-way though if I sent them credit reports they see what they could do, the 4th said there would be likely a couple of high street lenders (named them too, which was refreshing as brokers can be ultra cagey of giving too much info on free initial phone calls) and would just require more information to decide who would be best.

How good brokers are varies, and I guess each has their own area of expertise, so its really finding someone who has dealt with similar cases (at least in regards with the special problem area you have). If you have concerns because of an issue, express this to each and see what their reply is. Do you feel confident they can help, do they seem interested and have the knowledge to cater for you as a client. Its probably gut feeling you need to rely on, and reading this forum means you have some knowledge to base judgements on.

aero1

Thanks again, useful info and good advice