Natwest-Decision In principle approval ! help !

scotty_lawrie

[FONT=Arial, Helvetica, sans-serif]ok guys need some advice !

I have bought a property, after I was approved for a decision in principle with Nat West. now when my financial advisor went to apply for the full mortgage amount once my offer on the house was accepted , he realised that the best deal with them wasnt available to him, and that id be better off going direct! so he asked them if my approval for decision in principle would still count , but nat west said no and that i had to apply again. which i did and spoke to them yday and am not waiting for full approval.

Do you think ill be ok considering the approved me last week, and the only reason ive had to apply again is to get the better deal? im just a bit wary cos they credit checked me for the first app (my record is perfect) and now they have credit checked me again so just hoping they will say yes!cos i've bought the place now and only did so cos i had a decision in principle to start with! what use think?
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VIGILANT22

You dont buy property on the back of a DIP (Decision in Principle)...a DIP is only them saying yes we will consider you for a loan...........

scotty_lawrie

Yeah thats true but you know what I mean, I bought one for under the price that they said they would loan so on the basis that nothing in my credit history or circumstances had changed then I would assume I would get it . My question is the part about Natwest doing stuff twice.

VIGILANT22

What did your mortgage advisor say?

scotty_lawrie

the lady from Natwest said there shouldnt be a problem as long as my payslips says i get paid what i said i do(which i do) and my outgoings are what i said they are based on my bank statements (which they are) and i have to provide these because i bank with BOS and not Nat West. I think ill be ok, its just annoying the banks being closed over the long weekend ! and im a first time buyer so this experience is daunting enought without complications

VIGILANT22

Dont worry...looks like u'll be fine....go and have fun this weekend/easter...you wont be able to afford it in future as a homeowner!!

scotty_lawrie

thanks dude ! i hope so ! i just read all these stories about people having to re-apply and then the bank saying oh u have too many credit checks, even tho it was them who have done two and made u have "too much".

Hope it all goes ok

scotty_lawrie

anyone had experience of this ?

Dan_1976

To be fair, bank staff are not human and dont need holiday! ;-)

Problem is in this market in 2010, anything can happen. Buying property is now risky from the start. You may have issues it may not.

You can only go along with what they ask, provide what they ask for and keep on top of the process as you go.

Good luck