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FTB - AIP broker question
FTB_CO
Posts: 7 Forumite
Hi!
New here.:hello: My partner and I have found a property that we would like to buy and our broker has obtained our AIP with Nationwide. All agreed. My query is, when taking all of our details, our broker only requested to know our earnings and our credit (such as our cars as they are on finance). I mentioned some direct debits and he said no he does not need to know them. I'm worried that the AIP will not be accurate as when we eventually apply for a mortgage and include our DDs the offer would go down based on outgoings.
Can anyone advise on this. Is it normal to not include DD in the AIP application? We are FTB so this is all new to us.
Thanks in advance for any help.
New here.:hello: My partner and I have found a property that we would like to buy and our broker has obtained our AIP with Nationwide. All agreed. My query is, when taking all of our details, our broker only requested to know our earnings and our credit (such as our cars as they are on finance). I mentioned some direct debits and he said no he does not need to know them. I'm worried that the AIP will not be accurate as when we eventually apply for a mortgage and include our DDs the offer would go down based on outgoings.
Can anyone advise on this. Is it normal to not include DD in the AIP application? We are FTB so this is all new to us.
Thanks in advance for any help.
0
Comments
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Direct debits do not matter as such, but the level of debt is more important and everything is based on affordability, if you pay your credit cards in full for example, you would have 0 debt on them and your DD wouldn't matter per say.
Routine daily spending is based on ONS figures now."It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
Assuming you mean direct debits for phone/internet/gas etc then it is not important - we do get that information but more for our benefit than the lenders.
Lenders generally use ONS figures for normal everyday expenditure.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Have a look at the Nationwide affordability calculator and see what it does and doesn't ask for.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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Thanks all for your answers!0
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