Natwest Mortgage And (An Old) Default

gazzy3005

Hi there everyone. I am new to the site and don't appear to be able to find the answer to this question, although I imagine that it has already been answered.

I am a first time buyer and a Natwest customer. I spoke to one of their mortgage advisers about their first time buyer deal, which seems OK but I am looking elsewhere also.

My credit rating is good and they told me that they use Experian to do their searches. At the time of the meeting I was honest and told the lady that I had a satisfied default, which timed out of its 6 years the day after the meeting and would be coming off my reports. (It now has done and my report looks great).

She told me that I may have a problem with the application as the question that the system asks is "has the applicant EVER had a default?". Obviously my answer would have to be yes, although it is not on there now.

Is there anyway of them checking this or do they just have to trust that the applicant is being honest with them? If I answered no to that question is there somewhere they would check and find out that I was telling a little white lie?

Hope that it makes sense! Thanks for your help.

Gaz

GMS

gazzy3005 wrote: »

Is there anyway of them checking this or do they just have to trust that the applicant is being honest with them? If I answered no to that question is there somewhere they would check and find out that I was telling a little white lie?

Hope that it makes sense! Thanks for your help.

Gaz

If you answered 'no' then you would be submitting a fraudulent application.

gazzy3005

I am aware of that and I wouldn't anyway, it has been mentioned now but it seems like a bit of a loaded question.
Surely, that being in the past and off the record is what now counts, I thought that was the whole point of a credit report.

They may as well ask if you have ever missed a payment on anything in your life...

bigadaj

Know what you are saying and it does sound quite strict, the haven you ever question normally just refers bankruptcy. However it's their money at the end of the day, forgetting about state ownership, and the make the rules! Would expect there to be other options available elsewhere.

gazzy3005

Cheers bigadaj, I know its their rules and their money at the end of the day. I'll probably speak to an adviser/broker and see what they think.