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Nationwide Save To Buy ISA
aimzee84
Posts: 85 Forumite
Good morning folks!
I'm writing this thread on behalf of my brother and his partner.
They opened a Nationwide Save To Buy ISA, and have been throwing money at it to get their deposit saved!
They reached around £17k I believe, and applied for a mortgage. Nationwide mucked up the application, performing several searches a day which reduced my brothers credit score by around 70 points (Experian), and ended up offering them an amount, then saying it was £600 less, then saying £3400 less. Long story short, they complained, were offered a cash apology and the full mortgage amount that they had originally appled for. This was weeks ago.
They're now very close to completing :T BUT Nationwide have told them that in order to receive the £1250 cash reward (an incentive for using STB ISA and applying through Nationwide), they now have to RE-APPLY for the mortgage! So, more credit searches, more delays, another survey and more solicitors fees. They've started a new complaint, and are contacting the Ombudsman Monday. I guess my question is-are they allowed to do this? It was Nationwide's fault the original application went wrong, but this has been rectified, so why should they have to reapply? Obviously any further delays will also result in them losing the house!
Many thanks for any help you can offer!
I'm writing this thread on behalf of my brother and his partner.
They opened a Nationwide Save To Buy ISA, and have been throwing money at it to get their deposit saved!
They reached around £17k I believe, and applied for a mortgage. Nationwide mucked up the application, performing several searches a day which reduced my brothers credit score by around 70 points (Experian), and ended up offering them an amount, then saying it was £600 less, then saying £3400 less. Long story short, they complained, were offered a cash apology and the full mortgage amount that they had originally appled for. This was weeks ago.
They're now very close to completing :T BUT Nationwide have told them that in order to receive the £1250 cash reward (an incentive for using STB ISA and applying through Nationwide), they now have to RE-APPLY for the mortgage! So, more credit searches, more delays, another survey and more solicitors fees. They've started a new complaint, and are contacting the Ombudsman Monday. I guess my question is-are they allowed to do this? It was Nationwide's fault the original application went wrong, but this has been rectified, so why should they have to reapply? Obviously any further delays will also result in them losing the house!
Many thanks for any help you can offer!
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