Asked by Laurenjade17 on 2nd September 2016 Report this content

Did anybody have overdrafts and get their mortgage approved? Thanks in advance

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Report this content mickpumford Written on: 06/09/2016

Yes they may but it doesn't mean you won't get the mortgage. Ordinarily they will require you to include it as part of your mortgage loan amount and place a condition that the Overdraft is cleared. Come back to me if you wait more than three weeks for a decision.

Asked by Jimmyb86 on 1st June 2015 Report this content

Hi I'm about to go through with a mortgage application I have a 99 percent credit record full time employment never been in debt. Just one thing is on my 3 months bank statement it shows a transaction for 1000 pound to betfred betting website which was for a grand national betting syndicate at work as soon as I placed the bet on my phone I put the money back in to my account, does anyone know if this could ruin my mortgage chances?

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Report this content mickpumford Written on: 06/09/2016

Lol it doesn't matter where you spend you disposable income however, if it goes to n underwriter for approval they might ask you to go to ladbrookes for better odds. But no, as long a s you don't have a credit account with a bookie that might affect your score with the reference agencies.

Asked by Ronan47 on 4th May 2015 Report this content

I am trapped in my home as Nationwide are refusing to port my mortgage stating I have failed in their credit checks . They will only consider an appeal if I reduce my mortgage from £123000 to £100000 under. 50% LTV. I wanted to port £122,000, so slightly less, as I'm downsizing and want to use some equity to pay off some bills etc. Does anyone have any advice?

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Asked by Konnichi on 6th July 2014 Report this content

To cut a very long story short nationwide have taken over three months to complete our mortgage in fact we still don't have a mortgage offer. Before we involved the complaints department we had a mortgage agreed in principle, the house valued then told due to the law change we had to go back into branch to be told verbally that my partner would be over the age of retirement at the maturity of the mortgage. At this rate she might be over a 100! They then tried to re process the mortgage and said the computer was crashing so I left the branch without success then after a further two months they said my partner was too old so they needed to cut the term. Then IT couldn't repair the application form so we had to do a manual application then at three months they said that we failed affordability which we new was not correct! Then they said goodbye and have a nice day! You can imagine the upset and stress this caused. Then I put in a complaint mainly to get the numerous credit checks removed. I was advised they had reprocessed the mortgage and guess what, we can have the mortgage! So here is the question the nationwide have said that they will compensate us for the inconvenience and delay and appear to want me to say what I think this should be. Does anyone have any experience of this?

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Asked by damiemariah on 13th June 2014 Report this content

I have had our mortgage accepted in principal, and they have now booked the survey on our new house, does this indicate that they have approved the mortgage subject to the survey? Thanks.

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Report this content Nationwidearepants Written on: 13/06/2014

I'm afraid not. They complete the survey and if they are satisfied that the valuation is not more than it's market value they will go ahead with the application an take additional information from you. This is is the point at which my application became farcical. They failed to track requests and despite being given information claimed they never received it. They made such a spectacular mess of it that I did in fact get my money back that I paid for the survey as I skipped merrily off to halifax for a better deal and a ten day process from start to finish. I would just say make sure you call them every day, as painful as it is they don't do anything otherwise. Good luck!

Report this content q1w2e3r4 Written on: 13/06/2014

My daughter and her partner received the same as you however when the "survey" or more correctly the "valuation" came in they were refused a mortgage. They lost the valuation fee and incured additional solicitors fees - several hundreds of pounds. Nationwide use just one valuation company based in Derby for the entire UK. It is only local estate agents who know the true value of the property in their area. Despite submitting several local valuations, ALL of which were significantly higher than the Nationwide's valuation, the Nationwide did not listen. It dragged on for over a month and in the end my daughter went to another mortgage provider. They have now purchased their flat. Do not put all your eggs in one basket. My advice would be to approach another lender now before the Nationwide leave you high and dry. They have reported the Nationwide to the financial ombudsman but it seems very unlikely that they will recover their losses. Hope this helps.

Report this content aebruce40 Written on: 14/06/2014

It will be subject to survey and all the other checks they do regarding your finances.

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