Nationwide DIP - Likely to change much when bills taken into account?

madhatter83

We are early stages and looking to sell our flat and move into a small house, we have a DIP in place, and entered all the usual questions they ask. They did not touch on the cost of council tax, electricity, food shopping ect.

We cannot get a mortgage appointment online until we have a buyer and have found a new home - however if our 260k figure was to be revised down much we would struggle to get the property we want and would have to wait. 

Do we really have to instruct estate agents and solicitors before we can get a better idea if this sum is accurate? 

We own our car (9 years old and low milage) we each have a £25 a month phone contract, and spend £200 a month on shopping. Also spend 100 per month on life insurance and critical care cover - 0 debt apart from the current remainder of mortgage being ported across.  So i cant see anything there that should be an issue but it does make me a bit unsure.. 

amnblog

Your monthly regular bills will not affect your DIP level.

Use a Broker to get a convenient service.

MattMattMattUK

Speak to an independent broker, not one from a lender and certainly not one affiliated with an estate agent.

ACG

Nationwide ask about council tax, buildings insurance, ground rent/service charge, necessary travel costs and I think that is it. 

The rest (apart from laons/commitments etc) they use ONS figures. 

But as suggested (although I realise the bias) a broker might be good for you. You have someone on hand you can ask these questions of and they can turn around appointments within a day or 2.

kingstreet

When you add the property details, you'll be asked about Council Tax, ground rent; service charges and buildings insurance. These are the only property related items Nationwide requests. Use the affordability calculator with the correct figures (or a decent estimate) to ensure your DIP figure won't deviate much from what you are expecting from what you've done so far.