Nationwide Decision appeal

mrsmortgage

Broker has got back to me saying that because my husband took 4 days of unpaid leave in the past 8 weeks they won't lend us the amount needed. Any success of appeals? We need the maximum amount possible. I feel like we'll never get anything at this pace.

ACG

What has your broker suggested? 
Presumably there is a Plan B? 

mrsmortgage

Find a different lender. But she hasn't said who would that be. Last time (a few months ago) Halifax would only give us £175k (same as Nationwide would this time if appeal unsuccessful). We need £190k 

[Deleted User]

How long ago was it?  Nationwide use last 8 weeks payslip to form the average and then annualise it up.
Do you have time to wait for the leave to cycle through the payslips? 

mrsmortgage

To be on the safe side, we'd have to wait til early March for 3 of the  4 days to disappear. For all days to not appear we'd have to wait til April. Obviously not ideal. 

mrsmortgage

Deleted_User said:

How long ago was it?  Nationwide use last 8 weeks payslip to form the average and then annualise it up.
Do you have time to wait for the leave to cycle through the payslips? 

So appeal is a no go? And simply a case of computer says no?

Thrugelmir

What are the grounds for appeal? 

mrsmortgage

That as company policy, they take accrued unpaid leave that week as all employees get one of their bonuses that week and they're less likely to be out of pocket.  The broker thought it was too harsh too, and that they could potentially bend the rules a bit. 

[Deleted User]

I doubt they would accept appeal. Nationwide rarely pay attention to p60s or year to dates to balance out bad weeks.  They tend to focus on the 8 latest weeks and ignore everything else. 

Natwest can easily ignore a bad few payslips if they are not indicative of the true earnings, virgin take any 3 of the last 4 months for these kind of things.

Nationwide just don't tend to be very good at bending the underwriting policy. 

It's worth an appeal certainly but I'd be wanting a plan b sorting ASAP as well

mrsmortgage

Any suggestions for a Plan B? It looks like we need someone who'd mend us 4.5x our earnings with 1 dependent and £225 monthly commitments. 

mrsmortgage

And yes this is my broker's job,  but she should have foreseen this.