FTB Mortgage declined by underwriters

Thrugelmir

ACG wrote: »

If you went over your overdraft for 1 day natwest will know, other banks are unlikely to.

Data will be lodged with credit agencies (A) If current account is in overdraft (B) If facility limit is exceeded

This is whole basis of companies such as Experian collating data.

While lenders compete for business. They share a collective aim to reduce risk and avoid potential of bad debts (defaults).

Stanoinnit

Thanks all as it stands currently my account is in credit, not in the overdraft, the only charge in relation to overdraft was nearly 6 months ago - Natwest have said that they look at 6 months worth...so had I have applied in 4 weeks time they wouldn't have taken the charge into account and would have approved my application. Big learning curve all this. Is there a way my parents could go guarantor for me do you think?

moneemonee

Hi,

My husband and I werealso turned down from Natwest at underwriting stage, I think they are quite strict with who they will lend money to.

After directly applying to Natwest ourselves and it being unsuccessful we chose to use abroker.

We found a whole of market fees free broker and he was excellent, we have now had a mortgage approved.

I hope this gives you some hope!!

Stresspot20

Hi. I have put through a mortgage application via a broker to natwest. I am a RBS customer and have a credit card with RBS I have a good job and I only pay £160 a month to my car. I have £290 on my credit card. My application for a mortgage was approved ( got mortgage in principle) but it's not away to underwriters! Can anyone give me any advice! How long it takes! What the underwriters look for?? Thanks!!!

Stressing!!!

FTB_Doll

Might be best starting a new thread x