Nationwide mortgage

Cheryl2010

Have had an offer accepted on a property and our mortgage broker has put in a full application with Nationwide for the mortgage. 

We have had an AiP with them, but I am so worried they will reject the full application. 

We have clear credit files but do have a personal loan and car finance (£480 in total per month for both)

We bring in approx £3200 a month and the mortgage payment would be around £890.

Does these seem reasonable? We have no other debts or large outgoings, no childcare costs etc.

Our broker doesn't think there will be an issue, but I just have this pit in my stomach that they will reject it and we will lose the house we want.

MattMattMattUK

Cheryl2010 said:

Have had an offer accepted on a property and our mortgage broker has put in a full application with Nationwide for the mortgage. 

We have had an AiP with them, but I am so worried they will reject the full application. 

We have clear credit files but do have a personal loan and car finance (£480 in total per month for both)

We bring in approx £3200 a month and the mortgage payment would be around £890.

Does these seem reasonable? We have no other debts or large outgoings, no childcare costs etc.

Our broker doesn't think there will be an issue, but I just have this pit in my stomach that they will reject it and we will lose the house we want.

If your broker thinks the full application will be fine, and they have full visibility of income, expenditure, other debts, lending criteria and current lending trends then no one on here will be able to offer a better opinion as we all lack the majority of the information. 

Cheryl2010

Hi, 

Thank you for the quick reply. I guess I was just looking for some reassurance from others who are going through the same thing / have a mortgage with Nationwide etc.

Our mortgage broker seems to think everything is fine, so will have to just go with it - he is saying the full applications are taking a few weeks to be approved / rejected so will just need to keep my fingers crossed until then 

MattMattMattUK

Cheryl2010 said:

Hi, 

Thank you for the quick reply. I guess I was just looking for some reassurance from others who are going through the same thing / have a mortgage with Nationwide etc.

Our mortgage broker seems to think everything is fine, so will have to just go with it - he is saying the full applications are taking a few weeks to be approved / rejected so will just need to keep my fingers crossed until then 

There will be others with applications being processed, but what happens to them is irrelevant as mortgage applications are specific to each person. It might go through, it might not, the mortgage broker is the best guide on that, second guessing them and trying to get better advice from randoms on the internet will not get you any better information than the opinion of the broker. 

K_S

Cheryl2010 said:

Have had an offer accepted on a property and our mortgage broker has put in a full application with Nationwide for the mortgage. 

We have had an AiP with them, but I am so worried they will reject the full application. 

We have clear credit files but do have a personal loan and car finance (£480 in total per month for both)

We bring in approx £3200 a month and the mortgage payment would be around £890.

Does these seem reasonable? We have no other debts or large outgoings, no childcare costs etc.

Our broker doesn't think there will be an issue, but I just have this pit in my stomach that they will reject it and we will lose the house we want.

@cheryl2010 You've used a broker, passed a broker DIP and have no credit issues. You've done all you can and that's as much assurance as you can get at this stage. Personally, based on the limited info in your post, I can't see any obvious reason why the outcome of the application would be in question.

As a broker, to stay on the safe side I'd never give a 100% guarantee of an offer to any client as it's always subject to underwriting and valuation, and I presume that's the approach your broker has taken as well.

Outside of reasons like property valuation issues, for most brokers declines at full application are pretty rare as typically everything has been checked and verified before going with a particular lender. The last decline I had was sometime last year due to the lender changing their visa-applicant policy in the few weeks between DIP and full app, so I wasn't aware.

Good luck, I hope your offer comes through soon! 

Cheryl2010

Thank you both - they have done the hard credit searches etc yesterday so it looks like things are progressing. 

The waiting part is always the worst