Nationwide has reviewed and approved the in-person valuation. Waiting game still not over :-(

Duminda_h

Hello my good people…
Panicked FTB here. I applied through my own bank (banking with them for 18 years) Nationwide 2 weeks ago and they have now reviewed the valuation and have approved the agreed purchase price which I think a good news. My situation is I’m in IT and currently on 2 full time jobs. I work highly respectable college/university in London which is my primary job and I have been working for them exactly for year now. Work pattern involves some remote work as well (at least 2 days). As per my secondary job I do IT again and mostly I support them evenings and weekends again mostly remotely and sometimes day time work may involve if there’s something major. Both jobs are permanent/full time and I do have time to both roles. However, I only started my secondary job in August and only received 2 payslips thus far. My “Decision In Principle” initially got referred and underwriter ( I think at that stage) approved after 2 days due to good credit score ( according to DIP acceptance cert). I went through a reputable mortgage broker ( Reputable estate agency + brokerage). We disclosed the working situation at this stage. Something to note here is in fact I kind of worked with my secondary employer prior to my first one since last year project basis and there were paying consultancy fees every month (honestly very small amount 😄). I can prove that with last years Nationwide bank statements). The question is Nationwide has asked P60 on my both jobs but I could only provide the P60 for my primary job and Nationwide is fully aware at DIP stage that I only started the secondary job 2 months ago. I have squeaky clean credit according to all 3 major credit reference agencies. Is anyone else in the same boat? Spending sleepless nights and your input is greatly appreciated :-) 

LRmortgage

Nationwide criteria states as follows; 

“ *Second job income can only be used where the applicant has been in the job for at least 6 months.”

if you only started 2 months ago then I think you’ll struggle to use that income unless your Broker can convince them that your earlier self employed work for the company should count towards that employment period. 

Duminda_h

Thank you LRMORTGAGE. The situation is my mortgage broker has verified with NW in writing prior to the DIP. They are fine with just the contract signed with the employer. Mine is 85% LTV mortgage and not a new built or gifted deposit or from inheritance.

nimbo

Nationwide have been super picky with me. I’m agency and they wanted letters from all sorts and many other documents. (To contain info they could get from my payslips such as earning to date this year)… 

however if I’d been on a zero hours contact they’d have accepted three payslips and a p60. 

You will get there eventually. Just be prepared to send them war and peace in paperwork. 🤣🤣