Porting Nationwide mortgage
Comments
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Also forgot to add when would they do the checks ( when offer accepted on property and request submitted or just before exchange and competition)0
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I don’t recall they do a full check when porting / changing mortgage product. As I changed a product 2 years ago and was simple as choosing product and specify start date. (Was easy application when done online)
if you borrowing may then they would do a survey and request payslips, etc0 -
It will be at the start they will credit check and underwrite.Porting is subject to underwriting however if not changing anything you have a stronger chance of being accepted even if circumstances have changed.Have circumstances changed?0
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peppapig14 said:When porting our fixed rate mortgage with Nationwide , we would want to keep the mortgage amount the same ( not borrow more or less) - do they complete a full mortgage check ( ie payslips etc )
When you're doing a like for like porting with no additional borrowing, Nationwide is able to exercise a lot of discretion on credit-scoring, criteria and affordability to make things fit.I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.
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Edi81 said:It will be at the start they will credit check and underwrite.Porting is subject to underwriting however if not changing anything you have a stronger chance of being accepted even if circumstances have changed.Have circumstances changed?
Income gone slightly down, and I'm being made redundant in December- although I'm starting a new job in January
Hence unsure to port now or would we need to wait until March ( when I have 3 full months payslips from new job )0 -
peppapig14 said:Edi81 said:It will be at the start they will credit check and underwrite.Porting is subject to underwriting however if not changing anything you have a stronger chance of being accepted even if circumstances have changed.Have circumstances changed?
Income gone slightly down, and I'm being made redundant in December- although I'm starting a new job in January
Hence unsure to port now or would we need to wait until March ( when I have 3 full months payslips from new job )I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.
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I can't answer for Nationwide but I am in the process of porting my mortgage and I had to provide payslips, banks statements etc.0
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K_S said:peppapig14 said:When porting our fixed rate mortgage with Nationwide , we would want to keep the mortgage amount the same ( not borrow more or less) - do they complete a full mortgage check ( ie payslips etc )
When you're doing a like for like porting with no additional borrowing, Nationwide is able to exercise a lot of discretion on credit-scoring, criteria and affordability to make things fit.0 -
Update as I sm now registered self employed with an estimated income quite low
Would this impact porting -0 -
peppapig14 said:Update as I sm now registered self employed with an estimated income quite low
Would this impact porting -If you are not changing the amount being borrowed they could use discretion.0
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