Hi there money saving peeps,
I'm hoping for some advice about my referred DIP (decision in principle) with Nationwide. I bank with them, have a Save to Buy account and have just opened a new ISA.
I applied for a DIP today and it came back referred. The advisor said that there was a slim chance of me getting a green light as the they are doing everything by the book and the FSA or equivalent are on their back a lot, but an underwriter would look at it and make a decision. He said it would take 1/2 days and they'd send me a letter about it, but I have the sense that I'll be waiting longer.
A little bit about my current financial circumstances:-
Offer accepted on a house for £109000
Have a 10% deposit, all savings
Am a first time buyer
Earn £35447 a year (other lenders have said they'd lend me more)
Have a credit card for £200 I pay off every month
Have a £253 car loan I pay every month
I have an overdraft of £1550 (I often get charged for going over the limit - my only bad financial move I can think of):(
Any advice on this subject (or similar experiences) would be gratefully appreciated! I'm not sure what to do next as I don't want to instruct my solicitors until I've got a mortgage offer approved.
The good thing is that the vendors are willing to aim for completion in 3 months time.
Help please !
I'm hoping for some advice about my referred DIP (decision in principle) with Nationwide. I bank with them, have a Save to Buy account and have just opened a new ISA.
I applied for a DIP today and it came back referred. The advisor said that there was a slim chance of me getting a green light as the they are doing everything by the book and the FSA or equivalent are on their back a lot, but an underwriter would look at it and make a decision. He said it would take 1/2 days and they'd send me a letter about it, but I have the sense that I'll be waiting longer.
A little bit about my current financial circumstances:-
Offer accepted on a house for £109000
Have a 10% deposit, all savings
Am a first time buyer
Earn £35447 a year (other lenders have said they'd lend me more)
Have a credit card for £200 I pay off every month
Have a £253 car loan I pay every month
I have an overdraft of £1550 (I often get charged for going over the limit - my only bad financial move I can think of):(
Any advice on this subject (or similar experiences) would be gratefully appreciated! I'm not sure what to do next as I don't want to instruct my solicitors until I've got a mortgage offer approved.
The good thing is that the vendors are willing to aim for completion in 3 months time.
Help please !