Nationwide Underwriting (Scotland)

dinks90

FTB buying in Scotland at £225k (Home report value £240k).
Income: £52k.
Loan: £205k (9.1% LTV) over 34 years.
Debts: Car HP £421.
Current Status: Application with underwriters for full assessment.

Original application was for 95% over 35 years, Nationwide came back and asked for the term or deposit to be increased. Term was changed to 37 years but they came back a second time asking for £20k deposit which I accepted.

With a monthly surplus (£1k+) while living at home, how likely are Nationwide to manually decline at the final stage?

Isthisforreal99

I assume you mean 99.1% LTV and not 9.1%?

Difficult to say your chances, £1k surplus whilst having only one major outgoing doesn't look great tbh on your salary - whats your take home, £3k ish?. Whats the monthly mortgage repaymentgoing to be?

Must be some concerns over affordability or they wouldn't have said increase the term and increase deposit.

user1977

I assume you mean 99.1% LTV and not 9.1%?

91.1% (205/225)

ACG

Affordability should be fine otherwise it would have been picked up at DIP stage.

Credit checks also appear to be fine.

At this stage the checks are more about ensuring there is nothing undeclared or misrepresented. Theoretically you should be home and dry.

dinks90

Sorry I meant 91% LTV. £20k deposit. 34 year term. Monthly payments £1125.

The £1k surplus is after sending money to my savings every month, bills (car finance, insurance and phone) and other general spending. No credit cards, loans, gambling or klarna etc.

Yesterday they requested a copy of the home report so I’m hoping it’s moving in the right direction.