I have a DIP from Nationwide for a mortgage for £128,000 in a shared equity new build with persimmon based on a 5% deposit.
On the DIP they are asking for:
Most recent payslip
P60
Proof of address
Proof of ID.
Salary is £48,000 basic with £10k bonus earned last year and same again due this May.
I currently have just over £1000 balance on a credit card with a limit of £4750 (with Nationwide) and an unused £400 overdraft on my Nationwide Current Account. These are my only credit commitments.
No missed payments, defaults etc and all aspects of my credit file are up to date and paid.
The only thing I am worried about is that I have used pay day loans in the past year and although all fully paid on time with no issues I am worried this could lead to my application being rejected.
Is this a distinct possibility and if so are there any other avenues I can explore if I am rejected?
Application is going in this week.
On the DIP they are asking for:
Most recent payslip
P60
Proof of address
Proof of ID.
Salary is £48,000 basic with £10k bonus earned last year and same again due this May.
I currently have just over £1000 balance on a credit card with a limit of £4750 (with Nationwide) and an unused £400 overdraft on my Nationwide Current Account. These are my only credit commitments.
No missed payments, defaults etc and all aspects of my credit file are up to date and paid.
The only thing I am worried about is that I have used pay day loans in the past year and although all fully paid on time with no issues I am worried this could lead to my application being rejected.
Is this a distinct possibility and if so are there any other avenues I can explore if I am rejected?
Application is going in this week.