Nationwide Online DIP Query

randrews1

Good evening,

Just a quick query to see if anyone is in the same situation as myself with Nationwide trying to get a Decision In Principle online. 

I am a first time buyer wanting a 90% LTV mortgage and would prefer a term of 30 / 35 years. When selecting a 25 year term with my details, it is a straight accept, however when changing just the term to 30 or 35 years it is a complete decline, not even a referral. Nationwide have supposedly removed restrictions in terms to FTBs, but I was wondering if anyone else has experienced the above? 

Thanks in advance. 

K_S

@randrews1 Did you first do the 25yr DIP when the term restrictions were applicable? It could be that for a certain period the Nationwide system just refreshes that same attempt when you change the term hence the auto declines.

Also, I'm assuming here that the 30/35 years doesn't take you past retirement / 70.

randrews1

K_S said:

@randrews1 Did you first do the 25yr DIP when the term restrictions were applicable? It could be that for a certain period the Nationwide system just refreshes that same attempt when you change the term hence the auto declines.

Also, I'm assuming here that the 30/35 years doesn't take you past retirement / 70.

Hi, thanks for the prompt reply! Yes, I had a DIP which was the maximum term allowed of 25 years but lapsed in December 2020. 

Not sure about their system, as I thought it would update based on their restrictions now being eased, but could perhaps take a while?

Yes, 35 year term would still keep me below retirement age.