FTB help please

Meog12

Hi I just wondered if anyone could give me any advice as I am reading other posts on here about declined mortgage applications and panicking!

Myself and my partner have applied for a mortgage with Natwest through the help to buy scheme. We were given an agreement in principle by them and are now waiting for our application to be processed. My parter is in the forces and we are using LSAP as most of the deposit. Our credit scores are 834 and 843. My parter has no loans apart from car finance and has never missed a payment. I have no loans just car finance as well but one late payment last October which is showing as a 1 on my credit report. I'm really worried that application might be declined, due to some stories I have read online. Nothing has changed since the agreement in principle apart from I have closed an Internet account and set up direct debits to I don't make late payments again- since the AIP I have got my credit score p by 100 points.

Is anyone able to give any advice? Am I panicking for no reason or dies the AIP mean nothing?

Thanks!

starbarboy

Hi there

I am also a FTB so know how stressful it can be waiting for a decision.

Try not to worry - although an Agreement in Principle does not guarantee acceptance it gives you a reasonable indication of how they will view your application.

Best of luck and hope it goes well for you!

Stephen

Meog12

It's horrible waiting and not hearing anything! I think I've tortured myself by reading stories online!

Good luck as well if you are still waiting!

marshmallowkisses

I'm with you both, and I don't even have an AIP yet!

Mortgage appt on Friday, so let's hope I get one then.

Good luck folks!

martin2345uk

I hear you

We applied (also FTB) through HSBC, THEN came online and read stories about how strict they apparently are...

Cue 5 days of stomach churning waiting, then today got a call saying application APPROVED!

This despite my partner not having the greatest track record - but as others have said, numerical credit scores mean nothing.

Noddy32

We are slightly further down the line on HTB application, valuation is being done tomorrow but I'm still in bits and worry it will be declined. Ours is with Halifax. Good luck!

Meog12

It's nice to know other people are in the same position as us. It's the most horrid wait ever! Good luck everyone and congratulations Martin!

starbarboy

Meog12 wrote: »

It's horrible waiting and not hearing anything! I think I've tortured myself by reading stories online!

Good luck as well if you are still waiting!

Lol - I know, unfortunately it's normally the bad news stories that you hear about and makes you worry even more! Best piece of advice I received was to get a hobby whilst I was waiting to hear.

Anyway, just found out this morning that mortgage has been approved - trust me, if I can manage it there's hope for others too!

Best wishes

Stephen

Meog12

Congratulations! I really hope ours is accepted as we love the house! Unfortunately my hobby seems to be reading other people's horror stories guess I will have to find a way of distracting myself. Good luck with the move

martin2345uk

Congrats Stephen!
And good luck & fingers/toes crossed for the rest of you - as has been said it's usually only the horror stories that people bother to post, the vast majority of success stories go un-posted!

StrawberryTwist

H Meog,

We are a forces family and used LSAP! And have car finance Oh and we had an overdraft! Eeek! Just to give you another 'side' to the horror stories - we completed last week on our home

Please try not to worry, I know that is so much easier said than done, I was a complete nightmare, I still cannot believe it and expect the bank to say "haha only joking" any second! We used a FANTASTIC broker who held our hands through it all!

From my reading online and like you I did a lot! It seems Halifax AIP can be the one that may not be a full check and may cause problems down the line, I am not sure though about Natwest.

Good luck!