Seeing a mortgage advisor at Natwest on Saturday!

sugarpants_2

Well weve finally booked an appointment to see a mortgage advisor at the Natwest. Were just gonna see how much they would lend us on our current status.

They said we need to take payslips/P60. Is there anything else we need?

Feeling excited but have a gut feeling well be walking out feeling depressed due to the state of the country at the moment.

Oh well might aswell try eh?

Anyone else been to Natwest?

c0c0nuts

Hi there, do you bank with them already?
We just remortgaged with them and saved £120 per month and the rates dropped again since then. With any luck you should be fine, we didn't think we'd get the go ahead but they surprised us!
By the looks of your signature you've got nowt outstanding which is a better position than we were.
All crossed for you x

sugarpants_2

Hi Coco
Yeah we bank with them Hopefully they will be good to us too. Im worried with having no deposit might hinder us. Although we do have a fmily member who would lend us 10-12k if we REALLY needed it. Fingers crossed.
Did you go into a branch?
Sx

c0c0nuts wrote: »

Hi there, do you bank with them already?
We just remortgaged with them and saved £120 per month and the rates dropped again since then. With any luck you should be fine, we didn't think we'd get the go ahead but they surprised us!
By the looks of your signature you've got nowt outstanding which is a better position than we were.
All crossed for you x

beecher

You definitely need a deposit - no point in going in without knowing for sure you'll have at least 10% of the purchase cost. You also need to keep aside a few thousand for fees etc too

sugarpants_2

Although we do have a fmily member who would lend us 10-12k if we REALLY needed it. Fingers crossed.

beecher wrote: »

You definitely need a deposit - no point in going in without knowing for sure you'll have at least 10% of the purchase cost.

silvercar

You need to prepare yourself. Look online to see what mortgages they offer. If there is nothing there that is suitable, the advisor is not going to pull anything out of a magic hat. At the end of the day the in house mortgage advisor is a salesman for natwest mortgages. If he can find a product that fits, he will sell it to you. If he can tweak your paperwork to fit a product he may do that. What he can't do is produce a 100% mortgage for someone with no deposit.

figgles

Just going to say the same as beecher and was going to add have you seen anywhere you want to buy.

As a rough guide go for 3 x joint income, but what the bank will lend you will depend on your credit rating, the amount of your deposit (the higher the better, but 10% is a MINIMUM).

If your credit rating isnt brilliant or you want to borrow more than 60-70% of the value of a house you'll probably end up paying a higher interest rate.

2-3 years ago you could have probably walked in and bought a property worth 4-5 times joint income in some places with no deposit, but them days are long gone.

c0c0nuts

Hey chick,
We went into my local branch, took my OH 3 months bank statements in from HSBC so they could see his personal ingoings and outgoings, though the payslips an enquiries on my account were enough. We were concerned as we'd had probs previously from when we were self-employed.
Ours was a remortgage so was slightly diff to your situ but still the same application criteria, our house value had dropped with the credit crunch so our loan to value was quite high.
I assume you'll need some kind of deposit, they've just bought out a 90% loan to value mortgage which hasn't been around for a long time, but you'll still have to find 10%. 100% mortgages are virtually non-existent from what i've found.
The adviser will go through it all with you, personally I wouldn't mention that you'd 'borrow' the deposit from a relative, but that you have it 'available' if you know what I mean.
Hope this helps x

Kavanne

sugarpants wrote: »

Although we do have a fmily member who would lend us 10-12k if we REALLY needed it. Fingers crossed.

I can confirm you will DEFINITELY need it! And this will mean a max. property value of 120k for you as natwest do max. 90% LTV. Hth

beecher

sugarpants wrote: »

Although we do have a fmily member who would lend us 10-12k if we REALLY needed it. Fingers crossed.

Yeah I'd read that - just wanted to point out it had to cover fees too, and so you'd probably be looking at a max of slightly less than £80k. Also make sure you mention to your lender that it is a loan as they'd have to factor in paying back this loan when looking at your affordability. What's your salary, and what's you credit file like?