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playing with DiP figures
lydriver
Posts: 264 Forumite
I tried applying online with Nationwide for a Decision in Principle but got declined, there was an option to amend figures/details so I put in a lower amount and that was accepted.
Will it do any harm messing with the deposit/loan figures a bit more to see how much more deposit needed or max they will loan?
Will it do any harm messing with the deposit/loan figures a bit more to see how much more deposit needed or max they will loan?
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Comments
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Why not just use their detailed affordability calculator instead of incurring searches on your credit history via the DIP route?0
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It only does one search.
One you've done one, you can play around with it.
As a broker, we carry out the affordability calculations as Malmo said, then provide illustrations to the client.
If they are happy with the products, we than carry out the agreement in principle, noting the maximum possible over the preferred term.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
The affordability calculator gave a higher figure than what I was declined for.
Everything I entered was identical so it must be the credit check that brought it down. I don't have much credit history but had 1 failed payment in 20120 -
If your affordability calculator entries and your DIP entries matched exactly and you have been offered less, it's found some credit you haven't disclosed.
If you repaid a card or something in full a month ago, the system may not yet have updated, so go back in, enter the commitment and note it to be repaid.
Same with things like O2 mobile contracts. Part is a loan for the handset, so it's a credit commitment where the airtime contract isn't.
The only way to check is to compare your Experian file with your input when you get it.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
ahh yes, I used my credit card for a big purchase not long ago so I was covered if something went wrong, as you say it was paid off about a month ago
it showed up as a balance on the Equifax check this morning (thought nothing of it, thought it just took time to update) so I've put that amount in to the credit card section of the DIP application and has now accepted the amount I originally asked for
I guess that wouldn't have happened if I'd used a broker0
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