Natwest - Preapproved Mortage?

CG19a

Hi, one for Natwest staff really. I know a lot of banks give their staff info on whether the customer is preapproved for stuff like credit cards and mortgages. Does anyone know if Natwest provide this information and if so do they tell their customers?

Kavanne

Surely it's impossible to tell you this as there are so many different factors? Income, LTV, income multiple, the property itself?

I can tell you Natwest staff should not tell you anything about your internal scoring but it will hinder your mortgage application if: you've had charges, have inconsistent income, do not use your account, sit in your overdraft and never go into the black, regularly go over your overdraft limit. That's all just common sense really.

CG19a

I was only asking the question as I've read people discussing other banks and that they have something similar to what I'm asking. I was really wondering that if because Natwest know what my income is and with how I conduct my account if they make these rough decisions.

Kavanne

Even if they do have a preassessment for you it won't say '100% guaranteed mortgage' it will be something like 'it is worth running an application for this customer'. You won't get any kind of decision without applying though as they must also check your credit report HTH.

CG19a

Thanks Kavanne. I understand the "added checks" part. It was just a question out of sheer curiosity to be honest.

benbranson

Yes, the system tells you if you are likely to be accepted for a mortgage, in the same way it does for a loan etc. However as stated above it would still depend on LTV, income etc...

CG19a

Thanks Ben!