Nationwide Mortgage First Time Buyer

mousical

Hi,


I applied for a mortgage through London & Country for a Nationwide Mortgage. I was told by L&C that I had passed credit scoring etc. (as they do this at the start) and a valuation was booked (got the text the day of the application), the valuation happened last week and I had a text to say that Nationwide are reviewing the valuation. I've seen this report and its valued at my offer so don't see any issue there. I then had an email from my broker today saying that Nationwide have flagged an issue on my credit report. He doesn't know what this might be as they wont discuss it until he has a copy of my credit report (I have now downloaded one from Experian and provided)


I am confused as a) he said I had passed credit scoring b) I don't have any CCJs or missed payments C) I do have credit card debt but this was all declared in the application and relative to my salary is not an issue according to the broker. My only thought is that it might be an address issue as I live in a flat currently which sometime had the address written in different way eg 127B vs Flat B 127.


I understand that there is little point guessing what it might be but just wanted to see if anyone had faced anything similar and also wanted to understand if there is the opportunity to correct anything they have found/ explain or is it usually the case that if they have found something they don't like will they just decline? if they do what is my next step?




UPDATE: Have spoken to my broker and it seems Nationwide did a credit search on just 127 rather than my specific flat in that building - apparently someone in one of the other flats must have poor credit. Does this sound plausible? it just seems odd that they would do this. Surely bad credit is linked to name not just address?


My Broker has checked my credit report (that I emailed) and agrees there is nothing on there which should stop the application. Finger crossed.

muhandis

We took out a mortgage with NW a short while ago. Our AIP was fine (which is probably what your broker was referring to when he said you 'passed credit scoring') and we got rejected at full application.

The issue was traced (after a lot of chasing with the underwriters through the BDM) to NW's IT system not matching our current address correctly (it was a Flat X, XYZ Court, 123 High Road, etc kind of address) to the credit report.

I'm not saying your issue is the same, but just that there could be a similar misunderstanding which if your broker is any good, he should be able to get to the bottom of.

mousical wrote: »

Hi,

I applied for a mortgage through London & Country for a Nationwide Mortgage. I was told by L&C that I had passed credit scoring etc. (as they do this at the start) and a valuation was booked (got the text the day of the application), the valuation happened last week and I had a text to say that Nationwide are reviewing the valuation. I've seen this report and its valued at my offer so don't see any issue there. I then had an email from my broker today saying that Nationwide have flagged an issue on my credit report. He doesn't know what this might be as they wont discuss it until he has a copy of my credit report (I have now downloaded one from Experian and provided)

I am confused as a) he said I had passed credit scoring b) I don't have any CCJs or missed payments C) I do have credit card debt but this was all declared in the application and relative to my salary is not an issue according to the broker. My only thought is that it might be an address issue as I live in a flat currently which sometime had the address written in different way eg 127B vs Flat B 127.


I understand that there is little point guessing what it might be but just wanted to see if anyone had faced anything similar and also wanted to understand if there is the opportunity to correct anything they have found/ explain or is it usually the case that if they have found something they don't like will they just decline? if they do what is my next step?

mousical

thank you! did you have to do a whole new application? Or did you mange to work it through with them?

muhandis

No, our broker progressed the same application.

It was basically a matter of getting an actual person to manually have a re-look at the 'computer says no' rejection.

mousical wrote: »

thank you! did you have to do a whole new application? Or did you mange to work it through with them?