Adv on Nationwide A/C

superM

Hi,

Afew years I taken out a Nationwide residential mortgage on a BTL property. This was due to poor advice from mortgage adviser. I know now this was wrong todo.

However I paid off the mortgage in July 2015 and Nationwide has removed the charge from the land registry.

I am considering applying for Nationwide current account but worried that they might pull out my previous mortgage details and then check how long I have been living on my current property.

What are the risks involved.

Thanks

Doctor_Duke

You should just be honest and say where you have been living and registered on the Electoral Roll as that's what the credit application will check along with your previous credit history including mortgage. Inconsistency can be a red flag to lenders as they also check the National Hunter database for fraud prevention.

eskbanker

Why risk it at all? The only reason I can think of to pursue Nationwide's current accounts over others is the 5% interest on their FlexDirect account, but it's only for a year, i.e. capped at £125, so if you compare the incremental benefit versus saving with TSB, Lloyds, etc, I'd suggest that your 'loss' by going elsewhere would be pretty small and avoid any of the risk you refer to....

Doctor_Duke

The Flexexclusive regular saver, if you have a Flex current account at 5% at up to £500 per month is one of the better ones, as is the packaged FlexPlus account, if you load this up with £2,500 credit you get this for £5. This is at least two good reasons to go with Nationwide. The third is the £100 quid for you and a friend if you get recommended and switch an account....

superM

Doctor_Duke wrote: »

The Flexexclusive regular saver, if you have a Flex current account at 5% at up to £500 per month is one of the better ones, as is the packaged FlexPlus account, if you load this up with £2,500 credit you get this for £5. This is at least two good reasons to go with Nationwide. The third is the £100 quid for you and a friend if you get recommended and switch an account....

That was the reason I was considering to apply. However I think its too risky although not sure what else they can do rather than declining an application. The property is no longer mortgaged with them.

Anthorn

superM wrote: »

Hi,

Afew years I taken out a Nationwide residential mortgage on a BTL property. This was due to poor advice from mortgage adviser. I know now this was wrong todo.

However I paid off the mortgage in July 2015 and Nationwide has removed the charge from the land registry.

I am considering applying for Nationwide current account but worried that they might pull out my previous mortgage details and then check how long I have been living on my current property.

What are the risks involved.

Thanks

I differ from the foregoing replies. If you are being truthful in your application there is no need to volunteer information not requested unless you think that information will affect their decision.

Basically, they have not found it until they find it so don't jump to conclusions.