Nationwide mortgage

Jess716

Just spoken to broker, apparently nationwide are saying no based on affordability. Broker has gone back to them to question this as we pay more than the monthly payment in rent at the moment, and we have money left over every month.
According to nationwide affordability online and what broker checked they had told us we could have double the amount we actually want :mad:

Thrugelmir

Jess716 wrote: »

Just spoken to broker, apparently nationwide are saying no based on affordability. Broker has gone back to them to question this as we pay more than the monthly payment in rent at the moment, and we have money left over every month.
According to nationwide affordability online and what broker checked they had told us we could have double the amount we actually want :mad:

Hopefully you do have money left over every month. As the affordability calculation that lenders are required to use under regulatory guidance includes interest rates at 7% levels. Over the term of the mortgage this has a sizable impact.

Jess716

Yes we do the money over has been used build up the deposit.Obviously we wouldn't. Needed be using it for anything if we had the mortgage as wewouldnt be saving for the deposit.

xxlauxx

Oh Jess hugs
Surely your broker can help

Jess716

I hope so

xxlauxx

I have a little bit of news now!
Had a phone call to query a few bits (council tax and building insurance on application)
This was then approved and was told that affordability was approved.
Just had a text valuation has been booked for today? Thinkin that may be wrong tho??
We will soon see I guess!
Still not out of the dark tho...

Have fingers and toes crossed for everyone x

xxlauxx

It is wrong... Valuation booked for Monday!

fairyloveheart

Oh no Jess. That's rubbish
I hope your broker can get it looked at. We've heard nothing and I have a funny feeling we may be in the same boat but the broke hasn't told us as he is querying but that's just a feeling I have....

fairyloveheart

Have you heard any more Jess?

I still heard nothing. My broker replied but there is no news yet so NW obviously haven't made a decision.... Hope the new house people don't stick to their 4-6 week timescale for exchange as isn't looking likely

xxlauxx

How long has it been since you were updated fairy? They seem to be taking the Mick now x