Nationwide mortgage

Jess716

Hi,

I'm new on here (and to the world of mortgages) so please bare with me.

Myself and my husband have seen a house we love and want to buy, we weren't intending on purchasing yet so our bank statements aren't as tidy as they could be but nothing more than going into an overdraft (planned) by £100 now and again.

My husband is self employed and earns 28k after tax and any expenses have been deducted, I am part time and earn 11k, we have 2 dependants but no outgoings for childcare. The only outstanding thing we have is a 5k loan but this will be paid off via sale of car if we get the mortgage.

The house is 180k, we have 18k (savings and some inheritance money kept for about 7 years) and will be using help to buy so it means our ltv will be 75%.
We have a dip with nationwide and the valuation has been done and the app is now with the underwriters

The thing that concerns me is the credit file side of things, mine is squeaky clean but hubby has 2 late payments 5 years ago on a car finance and also a default registered for £27 by o2 about 3 years ago (due to an issue with them sending bills to the wrong address) there was also a provident loan paid late just under 6 years ago. (I know credit scores mean little but he is still in the excellent band)

Does anyone have any idea on our chances? And do nationwide do a full check on credit file at the beginning (it shows as first mortgage application on file) and if so does that mean they are happy with the content of the credit files?

Sorry for the essay

Jess716

Edit - sorry just to be clear the actual mortgage will just be 135k with the 75% ltv

xxlauxx

I'll be stalking to see how it goes for you!
We have just applied with nationwide too... Our DIP hasn't been approved it was referred so still waiting to hear...

Jess716

Keep us updated with how yours progresses, I'm surprised we weren't referred at first to be honest but they've moved fast so far, application went in and valuation was done 3 days after.
What is your criteria, any idea why you were referred?
We went through a broker, did you go direct or a broker?

Dave808_2

I'm now also stalking this as a back up plan!

xxlauxx

We are ftb, we hVe a joint income of around 45k a year.
Have just over £10% deposit (89.1% LTV!
Husbands credit file is perfect, mine has a default from back in 2011.
We have absolutely no credit but have childcare of 600 a month (we use childcare vouchers through work though so don't pay tax on this!)

Not sure why it was referred, maybe because of the default??
They have all of our paperwork and just waiting to hear. I'm hoping the fact that we wasn't straight decline? Positive thoughts maybe? Lol

I'll keep you updated! We will share the stress if you like!! X

xxlauxx

Sorry, didn't go through broker, just did it direct due to shifts with my husband so just did everything online!

Jess716

We are thinking along the same lines, at the end of the day as long as it's not a straight up decline it's got to be a good thing.

How big was the default? I know the nationwide will accept people with a ccj on file still (this is what our broker advised)and they're meant to be quite reasonable.

So fingers crossed for both of us! It may just be yours was referred for further information from you, obviously with ours going through a broker they had already got everything from us (literally everything they could possibly have asked for)

xxlauxx

We had a loan, husband lost his job, and had to pay lower amounts than what was expected. The bank agreed this, but still had default is. It's been settled for nearly 2 years now but still on there for 6 years.
Fingers crossed for us both!! Monday's can only mean the beginning of an anxious week!! xx

fairyloveheart

We were a refer with Nationwide too - due to debt of 25K which will be all settled if this goes through anyway. It went in on 13/ 9 and still waiting.... Feeling panicked

xxlauxx

Ahhh fairy! We seem to have a little nationwide fear group going on here lol!!
The last time I called them (Friday) they had said that all of my documents had been seen and accepted so I'm hoping that's a good sign. I don't even know what to think any more!
Fairy, did they tell u it was referred because of the debt? They haven't told me why mine was refered?? X