Helping hands mortgage - Nationwide

housebuyer143

Has anyone taken this out? Was it quite straightforward? 
Considering this to break the chain on my sale, and seems the only option to get 5.5x salary to be able to do it. 

Does anyone know of any other lenders who do 5.5x borrowing? 

Moneybear

Hi
It was easy enough - no different to any other application. My documents and application were approved with no additional questions. As soon as valuation returned it went straight to offer. 8 working days in total.
I could only apply via Nationwide directly on the phone/video call or through a mortgage broker. My first application I did a telephone appointment but the second application it was over 3 week wait time for a phone appointment so I went via broker. 

housebuyer143

Why couldn't you apply online? Do they require everyone to apply over the phone?

AFF8879

Habito mortgages do 7x income but only for certain professions/income levels… might be worth checking whether you’d qualify. Similar for Darlington Building Society 

housebuyer143

AFF8879 said:

Habito mortgages do 7x income but only for certain professions/income levels… might be worth checking whether you’d qualify. Similar for Darlington Building Society 

Thanks. The interest rates are a little high on those ones. 1.59% at nationwide.

Moneybear

housebuyer143 said:

Why couldn't you apply online? Do they require everyone to apply over the phone?

Because they don't accept helping hand applications online. Don't know why. Just what I was told. 

housebuyer143

Moneybear said:

housebuyer143 said:

Why couldn't you apply online? Do they require everyone to apply over the phone?

Because they don't accept helping hand applications online. Don't know why. Just what I was told. 

Ah, good to know. Thank you. I'll make the call and book in for application on advance 👍

Whywontthiswork

housebuyer143 said:

AFF8879 said:

Habito mortgages do 7x income but only for certain professions/income levels… might be worth checking whether you’d qualify. Similar for Darlington Building Society 

Thanks. The interest rates are a little high on those ones. 1.59% at nationwide.

Hi, I’ve been speaking to Nationwide about this and they told me interest rates were between 3.09 and 3.69% for their helping hand mortgages? 

Snookie12cat

Whywontthiswork said:

housebuyer143 said:

AFF8879 said:

Habito mortgages do 7x income but only for certain professions/income levels… might be worth checking whether you’d qualify. Similar for Darlington Building Society 

Thanks. The interest rates are a little high on those ones. 1.59% at nationwide.

Hi, I’ve been speaking to Nationwide about this and they told me interest rates were between 3.09 and 3.69% for their helping hand mortgages? 

Depends on the LTV. They are still there, starting at 1.89%. 3.69% is for 95%.

https://www.nationwide-intermediary.co.uk/products/product-finder

Whywontthiswork

Thank you. Absolutely gutted as our LTV is 93% so looks like our only option would be 3.49% APR which just makes our mortgage payments too high and just not feasible. Although we are at 93% LTV getting the extra to get to 90% is £10k away. So gutted