Mortgage AIP - will it be approved?

pupsicle

On Friday last week my husband and I got an agreement in principle from Northern Rock, based on all the info we gave our mortgage advisor.

I'm worried though that the mortage won't be approved once they do further checks. I had a credit card a few years ago which I didn't always make the minimum payment on and went over my credit limit. I always paid every month, but for quite a few months my payment was less than the minimum.

This doesn't show up on an Experian check (where I am rated as 'good') but it does show on Equifax.

Does anyone know if Northern Rock uses either or both of these systems for credit checking?

Other than this my credit rating is fine and my husband's is great. LTV is 85%. If anyone can give any advice / opinion on whether i'd be approved i'd be really grateful.

Experian_company_representative

The way I understand it, mortgage lenders usually only give an AIP once they've carried out a credit check, so you might be ok. There are one or two mortgage brokers on here I think who might be able to confirm this for you.

James Jones

Killmark

pupsicle wrote: »

I'm worried though that the mortage won't be approved once they do further checks. I had a credit card a few years ago which I didn't always make the minimum payment on and went over my credit limit. I always paid every month, but for quite a few months my payment was less than the minimum.

This doesn't show up on an Experian check (where I am rated as 'good') but it does show on Equifax.

I had an AIP however when I made the full application they reduced the amount I could borrow by £20,000 because I hadn't mentioned I was making Student Loan Company repayments on 9% my salary over £15,000.

I was a bit shocked because they had my net income previously for the AIP but asked what the SLC outstanding balance was (£20,000) after seeing my payslip and querying the deduction.

When your paying off £35 a month I'd probably clear my mortgage first .