Nationwide Helping Hand Mortgage

RedRuby_2

Has anyone applied for one of the new Nationwide Helping Hand mortgages? 

With them you can get x5.5 your salary and this is just what I've always needed to help me. I want to get approved straightaway and give myself the best chance to. 

I read that there will only be 5,000 of these but before I apply I figured I would ask if anyone else has and how they found it? Or if anyone has any more info on it? TIA

K_S

@redruby_2 I've not put in a full application yet but have done two DIPs (the process is a bit convoluted at the moment). As long as the numbers add up, the client meets Nationwide's 90% enhanced criteria and the helping-hand specific criteria, it's worth a shot.

The only way to "secure" one would be to make a full application after having an offer accepted on a specific property.

RedRuby_2

K_S said:

@redruby_2 I've not put in a full application yet but have done two DIPs (the process is a bit convoluted at the moment). As long as the numbers add up, the client meets Nationwide's 90% enhanced criteria and the helping-hand specific criteria, it's worth a shot.

The only way to "secure" one would be to make a full application after having an offer accepted on a specific property.

Why the need for two DIPs? Did you apply via phone?

billy2shots

I don't want to speak for @K_S

But this is in their profile

'I am a Mortgage Adviser'

RedRuby_2

billy2shots said:

I don't want to speak for @K_S

But this is in their profile

'I am a Mortgage Adviser'

I don't mind as I just want more info about this. They may have already gone through the process for a client.

billy2shots

RedRuby_2 said:

billy2shots said:

I don't want to speak for @K_S

But this is in their profile

'I am a Mortgage Adviser'

I don't mind as I just want more info about this. They may have already gone through the process for a client.

You asked why 2 DIPs. 

I'm presuming they were for 2 different customers due to his day job. 

I think you interpreted it as needing to do two for a single application. 

A lot of  presuming on my part. 

RedRuby_2

billy2shots said:

RedRuby_2 said:

billy2shots said:

I don't want to speak for @K_S

But this is in their profile

'I am a Mortgage Adviser'

I don't mind as I just want more info about this. They may have already gone through the process for a client.

You asked why 2 DIPs. 

I'm presuming they were for 2 different customers due to his day job. 

I think you interpreted it as needing to do two for a single application. 

A lot of  presuming on my part. 

Yes I thought he meant he did 2 dips for 1 application. @k_S hasn't replied to clarify what he meant. 

Runningmad

We enquired about this, you have to earn 50k a year to qualify.
It doesn't state this on the website, not very helpful. 

K_S

Runningmad said:

We enquired about this, you have to earn 50k a year to qualify.
It doesn't state this on the website, not very helpful. 

@runningmad "Minimum income of £31k sole applicant, £50k for joint applicants."

RedRuby_2

Runningmad said:

We enquired about this, you have to earn 50k a year to qualify.
It doesn't state this on the website, not very helpful. 

Is that per person or combined as a couple?

I read an article about it and the example given was a couple who earnt £50,000 combined. 

RedRuby_2

K_S said:

Runningmad said:

We enquired about this, you have to earn 50k a year to qualify.
It doesn't state this on the website, not very helpful. 

@runningmad "Minimum income of £31k sole applicant, £50k for joint applicants."

Any other criteria?