Strange situation with Natwest. Any input?

JimmyTheWig

FTBSOS wrote: »

I have recently applied for a mortgage with natwest
...
said something down the lines of not having allowed to have anymore relationship with either natwest or royal bank of scotland.

Could this possibly be the reason why?

I would say that this is almost definitely the reason why. You've been told you can't have any more relationship with natwest. Therefore I would expect an application to natwest to be turned down.

FTBSOS wrote: »

I checked my credit files, no cifas markers at all.

Hopefully, then, this means that you should do better with other lenders...

kingstreet

Dudley doing Help To Buy?

Really?

I just gave them a call and they have very limited funds on this for one particular broker, so you may be lucky if it's the right one.

I do use Dudley for shared ownership cases, as our areas overlap a fair bit.

FTBSOS

kingstreet wrote: »

Dudley doing Help To Buy?

Really?

I just gave them a call and they have very limited funds on this for one particular broker, so you may be lucky if it's the right one.

I do use Dudley for shared ownership cases, as our areas overlap a fair bit.

Yeah, the broker are: http://www.mortgagebureau.net/

If they do have limited funds, hopefully I am one of the luckier ones.

But yeah, I think if it goes pear shaped with DBS, I think I will just leave it and perhaps keep on saving and try again next year.

As someone probably said, perhaps it just wasn't meant to be.

ValHaller

FTBSOS wrote: »

Thanks for the replies, I checked my credit files, no cifas markers at all. When I turned 18, I took out a payday loan (Cashplus credit builder) you pay them 4.95 a month and they will report back to the credit reference agencies you're paying the loan off. They lend you £60.00 and it's for 12 months.

It's shows on my credit file as settled and it's under 'advanced payment solutions' or something like that.

It's not technically a payday loan, I wonder if that could also be the reason for the decline.

Oh dear, a 'credit building' product. Ad a sharp lesson in credit scoring.

Too late for you, but people need to get rid themselves of the idea that they have a 'credit score'. Each lender has its own scoring system and the scoring is very different for a mortgage than sofa credit. 'Credit building' products in general will only build your credit rating for sofa credit and it seems can be quite damaging to your mortgage prospects.

Caladan

ValHaller wrote: »

Oh dear, a 'credit building' product. Ad a sharp lesson in credit scoring.

Too late for you, but people need to get rid themselves of the idea that they have a 'credit score'. Each lender has its own scoring system and the scoring is very different for a mortgage than sofa credit. 'Credit building' products in general will only build your credit rating for sofa credit and it seems can be quite damaging to your mortgage prospects.

This is probably one of the best posts I've read on this forum so far (and I've seen a lot of good posts).