Natwest - Intention To Lend

mrluke

Just done the online "Intention To Lend" . I assumed this was the "Agreement In Principle" but i am a bit unsure ? .

Has any one done this before ? , it did state after how much we could borrow that the next stage would be doing full application after finding a house .

Thanks

Abbies

Hi,

Just wondered if you got an answer to this at all? We applied for a natwest mortgage online (intention to lend) and wondered how reliable these are before we go looking at properties.

Thanks
Abbie

mrluke

Abbies ,

I rang Natwest ( call center ) and local branch . The intention to lend calculator ( even though its stated is meant to be a decision based on your credit rating etc ) is actually a load of rubbish ! , The calculations was out by around 7k ! .

The normal calculator ( which doesnt do a credit check ) was dead on accurate and showed the proper amount we could borrow .

We went with a different company in the end , but we plan to complain to Natwest and im going to be moving my bank account from them ( after around 20 years of being with them ) as i think its ridiculous to have a calcultor that states :

" receive an indicative lending decision instantly online, based on a soft credit search "

Which gives you the totally wrong amount , despite putting in more accurate details ?