Mortgage broker - ask me anything

Graeme1978uk

I've seen lots of advice about not taking on additional credit commitments between Mortgage offer and completion - but what about the likes of TV/Phone/Broadband etc? We will be switching providers when we move to our new build next month but they will almost certainly conduct a hard credit check when we sign up. Could that cause a problem?

Toyo_86

Hi,
I have just made payment for a valuation to take place for my Natwest application (upgraded from valuation to home buyers report) - does this mean that Natwest is happy to make an offer subject to valuation? I have seen on numerous forums that people are getting notification from Natwest with offers subject to valuation.  I have not received such notification however. Should I be worried?
Thanks

haras_n0sirrah

Graeme1978uk said:

I've seen lots of advice about not taking on additional credit commitments between Mortgage offer and completion - but what about the likes of TV/Phone/Broadband etc? We will be switching providers when we move to our new build next month but they will almost certainly conduct a hard credit check when we sign up. Could that cause a problem?

It should be ok - it is more credit cards and loans 

kingstreet

haras_n0sirrah said:

EU nationals are treated the same as british nationals so if your partner is eu that should be fine as long as the non uk address isnt an issue (I cant remember nationwide's stance on foreign addresses off the top of my head)
In terms of timescales lenders will not escalate unless they are outside of their published timescales. Nationwide published timescale was 19 working days the last time I looked.
Nationwide will want to see a payslip with no furlow on it at all 

Nationwide requires a three year UK address history for all applicants. It's the first line in the criteria under "Foreign Nationals."

winogronek

kingstreet said:

haras_n0sirrah said:

EU nationals are treated the same as british nationals so if your partner is eu that should be fine as long as the non uk address isnt an issue (I cant remember nationwide's stance on foreign addresses off the top of my head)
In terms of timescales lenders will not escalate unless they are outside of their published timescales. Nationwide published timescale was 19 working days the last time I looked.
Nationwide will want to see a payslip with no furlow on it at all 

Nationwide requires a three year UK address history for all applicants. It's the first line in the criteria under "Foreign Nationals."

What about joint application where both applicants are EU nationals, one has indefinite leave to remain and the other one lives 1.5 years in the UK, pre settled status?

haras_n0sirrah

winogronek said:

kingstreet said:

haras_n0sirrah said:

EU nationals are treated the same as british nationals so if your partner is eu that should be fine as long as the non uk address isnt an issue (I cant remember nationwide's stance on foreign addresses off the top of my head)
In terms of timescales lenders will not escalate unless they are outside of their published timescales. Nationwide published timescale was 19 working days the last time I looked.
Nationwide will want to see a payslip with no furlow on it at all 

Nationwide requires a three year UK address history for all applicants. It's the first line in the criteria under "Foreign Nationals."

What about joint application where both applicants are EU nationals, one has indefinite leave to remain and the other one lives 1.5 years in the UK, pre settled status?

You must have had to put address history for 3 years in at aip. I have done foreign address for applicants with other lenders recently but not nationwide so haven't needed to check criteria for this with them. Have you gone to full application?

haras_n0sirrah

winogronek said:

kingstreet said:

haras_n0sirrah said:

EU nationals are treated the same as british nationals so if your partner is eu that should be fine as long as the non uk address isnt an issue (I cant remember nationwide's stance on foreign addresses off the top of my head)
In terms of timescales lenders will not escalate unless they are outside of their published timescales. Nationwide published timescale was 19 working days the last time I looked.
Nationwide will want to see a payslip with no furlow on it at all 

Nationwide requires a three year UK address history for all applicants. It's the first line in the criteria under "Foreign Nationals."

What about joint application where both applicants are EU nationals, one has indefinite leave to remain and the other one lives 1.5 years in the UK, pre settled status?

Kingstreet is of course absolutely correct - from the website. If you have applied to Nationwide this is not going to go through. You need a new lender who does accept non uk addresses in the last 3 years (do you have a 15% deposit as the lenders who do this currently are 15% deposit minimum)

Foreign Nationals

All applicants must have a three-year UK address history.

EEA Foreign Nationals

EEA foreign nationals are treated as UK nationals and applications can be considered under our standard lending criteria.

kingstreet

winogronek said:

kingstreet said:

haras_n0sirrah said:

EU nationals are treated the same as british nationals so if your partner is eu that should be fine as long as the non uk address isnt an issue (I cant remember nationwide's stance on foreign addresses off the top of my head)
In terms of timescales lenders will not escalate unless they are outside of their published timescales. Nationwide published timescale was 19 working days the last time I looked.
Nationwide will want to see a payslip with no furlow on it at all 

Nationwide requires a three year UK address history for all applicants. It's the first line in the criteria under "Foreign Nationals."

What about joint application where both applicants are EU nationals, one has indefinite leave to remain and the other one lives 1.5 years in the UK, pre settled status?

It doesn't matter about your nationality or visa status. Everyone has to have a three year UK address history. Even returned UK citizens who have lived abroad recently.

winogronek

It's a new build shared ownership flat. We purchase 30 % shares and we have 25% deposit. I'm not sure what you mean by " full application" , valuation was completed about a month ago, no issues there. Since then we just submit various documents Nationwide requested, we are still waiting for the assessment of the last document which we submitted 2 weeks ago. 

haras_n0sirrah

winogronek said:

It's a new build shared ownership flat. We purchase 30 % shares and we have 25% deposit. I'm not sure what you mean by " full application" , valuation was completed about a month ago, no issues there. Since then we just submit various documents Nationwide requested, we are still waiting for the assessment of the last document which we submitted 2 weeks ago. 

what address was put down for your partner for the last 3 years? Just wondering if foreign addresses were declared as I would have expected this to have been picked up in underwriting