Nationwide Mistake on Mortgage Payments

QuirkyMoney34

Hello, first time poster here but needed somewhere to share my experience and actually to see if I am the only one that this has happened too. 

**BACK STORY** 
I've had my mortgage with Nationwide for 7 years. They helped me buy my first home and I have never missed a payment. Not once.
Even when I was made redundant for 7 months when I took my mortgage out.  I have stayed with Nationwide as I preferred being with a high street lender and at the time the rates were very good. 

November 2023
My partner and I were having some financial difficulty as, at the time, we were both self-employed as company directors. Sales had dropped, but we always ensured we had money to pay the bills. 
Our mortgage payment goes out on the 26th of the month.  I hear nothing until 17 days later when I log into my banking app and notice that we were 4p short. 

I call Nationwide instantly and explained the situation, I was also incredibly nervous as I didn't like the idea of having a mark on my credit score - the mortgage is in my name, even when my partner moved in.  I was told that I had two options. I either go on a plan to help pay off the missing payment, but would mean it would show on my credit report as in arrears.
Alternatively, we pay in full and more or less, forget it even happened. We obviously went with the latter as we had the funds to pay. Payment was cleared and we heard nothing since. 


March 2024 - Present Day
My partner and I decide that we would like to move house. My 1 bedroom cottage is no longer working for the both of us, so we start the process etc. 
We find a house, get a DIP from Nationwide's website to say that they would lend us the money (I know that this is subject to checks etc.)
We speak to our mortgage advisor who starts the searches for a lender.

Nationwide & 5 other lenders - Refused
7th lender - Mortgage Offer!

We accept and pay the fees.  A couple of days later, they then reject our application due to our bad credit history.  Upset and stressing about it, we accept defeat and about to pull out of the chain, as our current MA is unable to help us. 

We come across another online MA which specialises in getting mortgages for those with bad credit and self-employed. So we start this process again. Paying the fees etc. 
We send in all the relevant documents, I am then asked to provide a written document as to why I missed a mortgage payment in November 2023....

Confused, I call Nationwide. Explained my situation and after being on hold for 20 minutes or so, I was told that they have admitted fault and incorrectly marked my Credit Score as late payment. I was given incorrect information and given offers, that were not even available to us. They even have the whole conversation recorded and it's written on my file what they have offered to me.
As a result they will clear my history, but this will take 8 weeks and I will only get a letter confirming this, as apparently, they don't do email...

I filed a complaint over the weekend as, thinking about it, we have spent over £3500 on fees to advisors, fees to lenders, have had to find a really high interest rate mortgage and spend longer trying to find a lender that would accept us... actually, we're still waiting on the verdict and if this gets refused... I may implode.
I honestly felt that after months of agro, the words "We're sorry" just didn't cut it.

Today, our current MA has said that the lender needs to see proof that mortgage payments have gone through since the beginning of the year. Apparently, my bank statements will not do. I have even filtered and this is not accepted. So I called Nationwide who cannot email me a copy, but can send me a copy in the post, which will take 3-5 days. We are on a tight time-line as our buyer is threatening to pull the chain...

So my question is, and if you managed to get this far, well done(!!!) - Has this happened to anyone else? Has anyone been successful in filing a complaint and getting compensation of anything? 

Thank you!

Hoenir

One late payment doesn't constitute a bad credit history. There has to be other factors involved. Laying it all at the NW's door is unlikely to be accepted. 

Jemma01

Have you tried to get a report about your credit score? 4p is ridiculous for this much pain.

BikingBud

QuirkyMoney34 said:

Hello, first time poster here but needed somewhere to share my experience and actually to see if I am the only one that this has happened too. 

**BACK STORY** 
I've had my mortgage with Nationwide for 7 years. They helped me buy my first home and I have never missed a payment. Not once.
Even when I was made redundant for 7 months when I took my mortgage out.  I have stayed with Nationwide as I preferred being with a high street lender and at the time the rates were very good. 

November 2023
My partner and I were having some financial difficulty as, at the time, we were both self-employed as company directors. Sales had dropped, but we always ensured we had money to pay the bills. 
Our mortgage payment goes out on the 26th of the month.  I hear nothing until 17 days later when I log into my banking app and notice that we were 4p short. 

I call Nationwide instantly and explained the situation, I was also incredibly nervous as I didn't like the idea of having a mark on my credit score - the mortgage is in my name, even when my partner moved in.  I was told that I had two options. I either go on a plan to help pay off the missing payment, but would mean it would show on my credit report as in arrears.
Alternatively, we pay in full and more or less, forget it even happened. We obviously went with the latter as we had the funds to pay. Payment was cleared and we heard nothing since. 


March 2024 - Present Day
My partner and I decide that we would like to move house. My 1 bedroom cottage is no longer working for the both of us, so we start the process etc. 
We find a house, get a DIP from Nationwide's website to say that they would lend us the money (I know that this is subject to checks etc.)
We speak to our mortgage advisor who starts the searches for a lender.

Nationwide & 5 other lenders - Refused
7th lender - Mortgage Offer!

We accept and pay the fees.  A couple of days later, they then reject our application due to our bad credit history.  Upset and stressing about it, we accept defeat and about to pull out of the chain, as our current MA is unable to help us. 

We come across another online MA which specialises in getting mortgages for those with bad credit and self-employed. So we start this process again. Paying the fees etc. 
We send in all the relevant documents, I am then asked to provide a written document as to why I missed a mortgage payment in November 2023....

Confused, I call Nationwide. Explained my situation and after being on hold for 20 minutes or so, I was told that they have admitted fault and incorrectly marked my Credit Score as late payment. I was given incorrect information and given offers, that were not even available to us. They even have the whole conversation recorded and it's written on my file what they have offered to me.
As a result they will clear my history, but this will take 8 weeks and I will only get a letter confirming this, as apparently, they don't do email...

I filed a complaint over the weekend as, thinking about it, we have spent over £3500 on fees to advisors, fees to lenders, have had to find a really high interest rate mortgage and spend longer trying to find a lender that would accept us... actually, we're still waiting on the verdict and if this gets refused... I may implode.
I honestly felt that after months of agro, the words "We're sorry" just didn't cut it.

Today, our current MA has said that the lender needs to see proof that mortgage payments have gone through since the beginning of the year. Apparently, my bank statements will not do. I have even filtered and this is not accepted. So I called Nationwide who cannot email me a copy, but can send me a copy in the post, which will take 3-5 days. We are on a tight time-line as our buyer is threatening to pull the chain...

So my question is, and if you managed to get this far, well done(!!!) - Has this happened to anyone else? Has anyone been successful in filing a complaint and getting compensation of anything? 

Thank you!

Nationwide and 5 other lenders refused?

What did you do to understand why this repeated refusal was occurring?

Why did you not initially challenge Nationwide at least as they had advised that the previous shortfall would not affect/ would not show on your credit report?

Why did you go to a MA with specialist skills for bad credit when you claim, you were assured your credit history was sound?

When did you last check your credit report? If there was an adverse record from the NW incident did you challenge it at the time and subsequently ask as part of the recovery that they now restore you to the position that you would have been in but for their error?  

Seems to me, like others, that there is something missing here.

ACG

Jesus. That sounds like one mistake after another.
The first broker should have got a copy of your credit report really, especially after the first decline and that late payment should have been picked up very early on. 

I think you have 3 options:
1) Go to a building society, they will be a little more expensive than the high street but not adverse rates. They will likely wait for the letter to come through to acknowledge the mistake. 
2) Go to an adverse lender, but rates are higher (I dont think this option makes any sense personally).
3) Wait for the credit report to update and then start from scratch. 

HobgoblinBT

If time is of the essence and you like Nationwide as a High Street lender can your local High Street branch provide the print out of mortgage payments in branch?

BikingBud

Obviously not too important then!