underwriters

karen1685

I have been accepted for a mortgage with platform, passed the initial credit check and ok with a default from 2006. I paid the survey fess yesterday and was told file now being checked with underwriters. Why do they have to pass it to underwriters? does that mean they could still refuse to offer me the mortgage. My credit report will pick up a couple of late payments from about 2 years ago, and about 2006 I must of got something from a catalgue and did not pay it until a year or so later, I can vaguley remember something but on credit file it just says company name and settled but no amount. I think it was for a comcorder for about £200. I remember sending them 2 cheques for £100 but I am going back to at least 2005/06.
They also said they will send me a letter with other bits of info they may will require like bank statements etc.
I am still waiting to hear from surveyor.

It's a remortgage and I have paid a mortgage for 5 years with no missed payments. I want to remort for £10k extra for home improvements, loan to value is 70%

powerwin

karen1685 wrote: »

Why do they have to pass it to underwriters? does that mean they could still refuse to offer me the mortgage.

My understanding is that underwriters can perform more detailed risk analysis to check that it is wise to give you a mortgage.

Yes it could still be refused.

This is not professional advice ...

Rgds

misstraddy

As I understand it, all mortgages have to go through underwriting.

This is my own personal opinion, I am not a mortgage advisor.

Conrad

I hope it's a fixed rate. Platform are not a lender you want to be with when stuck on a varaible rate.