AIP from Natwest

aldredd

Hi there,

was just wondering what level of AIP Natwest provide.

I went to see the advisor yesterday, who filled some initial forms in, which came up 'green', and was given a letter saying 'yes, we may be able to lend you £xxx' etc.

But, from what I can gather, this was merely an 'affordability' check with no credit worthiness done. I do most of my banking with natwest, so they'd have been able to check those details.

I asked if there was a more detailed 'check', but was told there was nothing else until I make an offer on a house and make a full application.

So is that it? Or should there be something a little firmer? I'm nervous about going around wasting people's time and setting our hearts on something when we have little chance.

kingstreet

We carry out a full score DIP with NatWest, but can't tell you what the branches do.

ispookie666

I am in the same boat. Have got an AIP/DIP for the amount i needed and also how much max i could borrow. I did enquire about checking credit file if needed - was informed that unless you have any missed payments over the years(which i have not had) then its not worth it.

Have been banking with them for 4+ yrs and both our pay gets credited into it. All they have asked at the moment when applying is - passports, proof of deposit(its with another bank ie bank statement), life insurance policy, income protection, solicitor details, EA and property details.

Not sure if anything else would come up.

aldredd

Sorry. newbie question, but DIP = ?

So might I be better off going via a broker to get a more detailed AIP?

kingstreet

Decision in principle.

Gordon_Hose

We did a full application with NatWest and got credit checked which came back as accepted.

Not sure what else is involved after that...

ethank

Normally if you are in branch and they will credit search you they will tell you before the search is undertaken.

aldredd

Strange - I might give them a call then to see if I can get anything firmer from them.

chambta

What is done initially in a branch involves no credit check and is based purely on behavioural data re account conduct/previous borrowing history and data from any previous credit checks done for other products. For non-customers they're pretty useless but for existing current account holders they have some value.

Thrugelmir

aldredd wrote: »

So is that it? Or should there be something a little firmer? I'm nervous about going around wasting people's time and setting our hearts on something when we have little chance.

If you know your credit history to be ok then there's nothing to concern yourselves with.

J_Devon

I also went into Natwest today to have a chat about mortgages and had a similar result.

He took my income/deposit details and came back and gave me a maximum they would lend. I asked what would be involved to get an AIP, but he said that they generally don't give them out as it can mean up to 3 credit checks being done through the process (AIP, full appplication and possibly by the underwriter).

Is this normal? Will estate agents take any offers I make seriously if I don't have an AIP in place?