Nationwide - Decision in principle declinr

BLL2197

Hello,

I started an online mortgage application with Nationwide yesterday, for a property we have just had our offer accepted on. When it got to the decision in principle section, it said that they would lend us the money based on the info in our credit file, but it was declined as ‘the property is in an area which does not meet Nationwide’s lending criteria’.  I have no idea why, it’s just a regular house in a regular estate. I can’t find any information in Nationwide’s lending criteria online. Has anyone else experienced this? 

johnhenstock

you can find all the criteria on Nationwide's intermediaries website, here:

Home | Nationwide for Intermediaries (NFI) (nationwide-intermediary.co.uk)

this is also where you find some real calculators, not those super basic, useless ones on their public facing website. there will be criteria for every single thing, including property suitability and income.

having said that, don't limit yourself to a single lender, it's never the best way forward. get a good, free, whole-market broker to set you up and focus on other things, conveyancing is already stressful enough.

good luck

RedFraggle

They may be what they consider "over committed" in that location. It's a thing.