Odds of refusal after aip from natwest

denver82

My partner and I have incomes amounting to £63000. We recently got an AIP with NATWEST for a property worth £200000 with a deposit of 15%. So we are asking to borrow £170000. We chose to go to NATWEST after matching my credit report and score from Experian with mortgage deals via Experian. I have credit card debts of £7415 with no defaults but 1 late repayment in the last 36 months. We are both on the electoral register. My partner has no credit card debt and pays of monthly balances promptly. My credit score is 980 and his is 999.

My question is should we go on applying for a mortgage if we find the right property considering my debt and what are the odds of NATWEST declining after they gave us an AIP.

kingstreet

Direct to lender deals from the likes of HSBC and Yorkshire Building Society tend to dominate the best buys at the moment. I can't comment on NatWest in terms of how good or bad the product you've looked at might be, because I don't know what you are looking for.

As long as the information on your full application matches that you've already supplied and there is no reason why the property shouldn't be mortgageable, I expect NatWest will grant you a mortgage.

Taking your credit card debt into account, you should still be able to borrow £240k without too much grief, so I can't see you being unable to get one of the better deals in the market. The late payment might put one or two off, but if it's getting older it might be ignored.

CRA scores are indicative at best and should be ignored. Plenty of threads on here saying "999 and declined." Lenders look for a lot more than a CRA does, so you are better off keeping an open mind about your prospects.

denver82

Hi thanks for the reply. I just had a look at my Equifax credit report and NATWEST did an 'opt-in' credit search on us when we asked for the AIP. Does this mean they've taken my debt into account before offering the AIP? Or will they do a thorough search when we apply and are referred to the underwriters?