Nationwide Helping hand Help

neilied

Hi all

my broker has completed AIP with a few recommended lenders and I have secured an amount. However one of the preferred lenders was Nationwide and i was told about Helping Hand scheme.

The broker and intermediaries team have said that I am not eligible. I checked criteria and asked for a reason. The response given was that on paper if fit but computer says no! I asked for the broker to clarify the reason but intermediaries and underwriter gave the same response. I contacted Nationwide direct on a few occasions but have got no reply from my requests.

Would appreciate a response from anyone with knowledge of the scheme beyond the published qualifiers or who have used the scheme before.

says first time buyer with minimum 5% taking a 5 or 10 year fix. Which I fulfil the only possible issue I see is that our joint incomes are made up of FT, PT income and benefit income. Nationwide accept all on a standard application but cannot say whether this affects a helping hand offer. Our income from jobs equals 72% of overall income 

Any help gratefully received 

kingstreet

Criteria here;-

https://www.nationwide-intermediary.co.uk/products/first-time-buyer-hub/helping-hand#helping-hand

lemondrops69

It also says 'If your client isn't offered Helping Hand, this may be down to a number of different factors which we're unable to provide further details of', so probably why you're not getting any feedback

neilied

Thanks both for the above. Did have this additional criteria read by my broker and we fit the criteria fully. The comment regarding no explanation to be given is poor as they need to be able to explain. Exactly what I said to my broker, if they explain why it’s not eligible I’d be satisfied we explored it correctly but just saying computer says no and move on is strange.

[Deleted User]

neilied said:

Thanks both for the above. Did have this additional criteria read by my broker and we fit the criteria fully. The comment regarding no explanation to be given is poor as they need to be able to explain. Exactly what I said to my broker, if they explain why it’s not eligible I’d be satisfied we explored it correctly but just saying computer says no and move on is strange.

Actually, on this forum, it's not, the computer, very often, says no and other directions have to then be taken.
Be guided by the professional working for you and do as is recommended.
The whole process is longwinded and exasperating and everyone on here will have experienced it, often.
As hard as it is try and take the emotion out of it - it helps, a bit.

kingstreet

Try entering your details here and see if you get a HH offer;-

https://www.nationwide-intermediary.co.uk/calculators/affordability-calculator

neilied

Did consider doing this as I found the tool on the link earlier. Concerned it would leave a footprint of me with Nationwide and may influence the work of my broker who will put a full application in next week.

kingstreet

neilied said:

Did consider doing this as I found the tool on the link earlier. Concerned it would leave a footprint of me with Nationwide and may influence the work of my broker who will put a full application in next week.

It's just an affordability calculator. You don't even enter your name!

neilied

Strangely I popped my details in and it offered the helping hand. My broker then ran her system with exactly the same figures and again it didn’t offer, but did offer an increases standard amount. So we are going to full application with then as it beats current offer