Forum Home» Mortgages & Endowments

Failed mortgage application (Natwest=useless liars!)

New Post Advanced Search

Failed mortgage application (Natwest=useless liars!)

edited 30 November -1 at 1:00AM in Mortgages & Endowments
16 replies 25.2K views
Mr_ZenithMr_Zenith Forumite
6 posts
edited 30 November -1 at 1:00AM in Mortgages & Endowments
Hi all,

dunno if I am being dumb, but I am extremely confused......:confused:

Me and my wife are buying our first house, and applied for a mortgage from Natwest. We got our agreement in principle no problem at all, however when we applied for the actual mortgage the application failed (although Natwest's mortgage advisor didn't tell us this, but then I think she's been lying throughout the entire process:mad:).

We got our credit reports from Experian and took them in (she told us it they needed them because we are first time buyers- ok, I am gullible!!) and 5 days later she requested we took in proof of address.

To cut a very long story short, we couldn't get hold of her one day so ended up speaking to their mortgage centre who told us the application has been declined (not referred to the underwriters as she had said!) due to a poor credit score.

On checking mine and my wife's credit report and score, we found out that we both have a credit score of 999, and there is NO credit check showin from Natwest on our credit reports..... does this mean that they actually have not done the search properly or not put the correct details in (therefore it couldn't find us, hence the failed credit check!)?? As far as I understand it, all searches should show on your report for 12 months or so.......?

Have I been taken for a mug?? We are now looking at telling them to stick their application and going to Nationwide...!

Please help.....!

Many thanks

Matt
«1

Replies

  • jhejhe Forumite
    1.8K posts
    Part of the Furniture Combo Breaker
    ✭✭✭
    well we had a similar performance with nationwide, got aip off them,paid for survey, survey was fine, mortgage was then refused without explanation. went to abbey ,from application to survey to mortgage offer took around 1 week. but then others on forum have had bad experiences with abbey
  • We haven't even got to survey yet......!

    Get the impression that they are all as bad as each other....!??

    Glad it worked out for you in the end though.
  • Hi just to say banks you can not rely on them no more [i have a house for sale been up now 18mths .it was going for 87000 i have aht to drop it to 82 950 and i think itis worth ervery penny .some one offerd me 80000 cash but i refused it .now i am still waiting i am not liveing in it and i hope it sells shortly hope you go on ok with it your probs elizebth
  • elizebth wrote: »
    Hi just to say banks you can not rely on them no more [i have a house for sale been up now 18mths .it was going for 87000 i have aht to drop it to 82 950 and i think itis worth ervery penny .some one offerd me 80000 cash but i refused it .now i am still waiting i am not liveing in it and i hope it sells shortly hope you go on ok with it your probs elizebth

    In what way does you not selling at the price you would like to mean you can't rely on banks?
  • jhejhe Forumite
    1.8K posts
    Part of the Furniture Combo Breaker
    ✭✭✭
    mr zenith. we had the survey on the propery we had made offer on. as i understood at the time we wouldnt get the mortgage offer until the survey was done, but we were buying a repo so maybe that was different in our case. have you considered going to an independent mortgage advisor? we did and our application the second time was plain sailing, the advisor dealt with everything.
  • Thanks jhe, will try that if we have no joy with Nationwide on Sat....

    Just don't understand why it doesn't show on the credit report, I can only assume she has entered the wrong details, and thats why it failed and it doesn't show.
  • edited 19 November 2009 at 10:30PM
    jhejhe Forumite
    1.8K posts
    Part of the Furniture Combo Breaker
    ✭✭✭
    edited 19 November 2009 at 10:30PM
    is it possible the latest person you spoke to at natwest has given you the wrong information? it doesnt make sense if you had a near perfect credit score but then we were refused with nationwide. i could be wrong but i believe every application for loans leaves a footprint on your history.we got our mortgage advisor to source the best mortgage/interest rate/set up fee for us then applied for what was best for us
    it is also strange that it didnt even go to the underwriters for you, if there was any doubt in their mind about your application
  • Its is possible that the last person gave me the wrong info, but both the other mortgage advisor in branch and the mortgage centre were saying the same thing...... the application was declined, there has been no referral.
    And I thought the same as you with the credit report, it should leave a footprint to show who has checked the report.
    Oh well, their loss eh!! :-)
  • No problems with Natwest here. We questioned the whole credit scoring process (we had concerns due to GF not being on electoral roll), and was told it was fine- any credit scoring problems would have been flagged up on the first few computer screens, and the application wouldn't have gone through.

    I can't praise Natwest enough, shame same cant be said for my solicitor......................!!!!!!!!!!!!!!!!!!
  • jhejhe Forumite
    1.8K posts
    Part of the Furniture Combo Breaker
    ✭✭✭
    well the process for mortgage application totaly baffles me. why do i get refused with nationwide yet snapped up with abbey?op gets problems with natwest, you sail through. who or what makes the final decisions? is there anyone who works in banking or connected with mortgage applications/decisions reading on this forum? can anyone enlighten us
This discussion has been closed.

Quick links

Essential Money | Who & Where are you? | Work & Benefits | Household and travel | Shopping & Freebies | About MSE | The MoneySavers Arms | Covid-19 & Coronavirus Support