Nationwide DIP worries

Tinkypink

Hi everyone.

This is my first post so be gentle please. I am a bit of a worrier and over thinker.
I currently have a mortgage with first direct. We owe £85k, our house is worth £160k. We’ve racked up some credit card and loans so attempted to remortgage at £110k. This went to the underwriters and they declined saying we had too many outgoings (even though these would be paid off). We tried with the Halifax (who my husband banks with and the answer was the same).

Our plan then was to sell. Rent and pay off debt etc and then try to buy again.....

On a whim I applied to nationwide for a new mortgage. It was accepted and we received a DIP. They wanted nothing from me, just a wage slip for my husband which I sent off. This was received on 19th Nov and still says awaiting approval.
Our house is on the market with some viewing booked in.

My worry is, what if NW turn me down when I get to the full application stage for the same reasons. I can see NW have done a credit check on my Experian account which is classed as ‘fair’.

I just wanted to know if this had happened to anyone similar. Are they not approving my husbands wage slip until I do the full application?

I declared all the credit cards and loans and put these would be paid off with the sale of our current home.

Thank you x

Thrugelmir

Might just be that the NW has an appetite to lend at the current time. Though with a chequered credit history. In all probability your application will be reviewed by an underwriter.

Tinkypink

Thank you for the quick reply. It’s a case of affordability I think. Never missed a payment etc just too many of them but they will be gone. I’m worried I’m just getting my hopes up x

skintstudentcardiff

We're waiting on a valuation for our property for our Nationwide mortgage! We've gone through a broker whose words were 'mortgage all agreed with Nationwide' - but we had to send off a couple of bits (proof of gift, etc) and now we're waiting on the valuation - so I have no idea what to expect now. Like, is it mortgage agreed subject to valuation??

Crossing fingers for you that they're just very keen to lend at the mo! xx

Tinkypink

ah good luck hun. hopefully itll go through quickly for you now x