Nationwide affordability calculator

Summer12

Hi,

I'm trying to get my head around the Nationwide calculators, does anyone know if the affordability calculator incorporates a stress test? "How much you can borrow calculator" says £336k, monthly repayments on £330k states £1400 approx leaving over £3000 left for bills and yet affordability calculator says no can only lend £273k with no debts except a lease car £289 per month. Do staff at Nationwide use these calculators or will seeing an actual person make more of a difference. I must be doing something wrong here as it doesn't make sense! Any help greatly appreciated!

tom2205

I have been told by my go to person at Nationwide that the affordability calculators that Nationwide use in branch and on the regular internet site are poor and don't usually work.

Your best bet is the intermediary Nationwide affordability calculator as that is more accurate and is pretty watertight as long as you are bang on with your figures.

kingstreet

http://www.nationwide-intermediary.co.uk/calculators/aff_calc

The intermediary calculator is very reliable and yes, it determines if you will get the amount requested.

Yes it has a stress test inbuilt.

Make sure you enter only what is asked for. Enter only essential to and from work travel and not your total travel bill. Estimate council tax and buildings insurance, we use £1,400 and £240 respectively.

It uses ONS averages for most household expenses, so no sticking food bill, mobile phone etc in there.

Summer12

Thank you!

Was entering our total petrol bills for our cars rather than just work use petrol (I also get paid my work miles so guess these don't need to go on at all). Also forgot child benefit! What a difference a few numbers make! Now "affordability" has shot up to £390k. Just shows how careful you have to be. Thank you again.