Natwest help to buy question

[Deleted User]

We spent 3 hours in a branch yesterday and he said he'd checked out credit score and everything 'looked great' however he then mentioned again about being credit checked and the valuation being done? Does this mean someone else will look at our credit file? Could he only see the basics? Mine is squeaky clean it's the fianc! I'm worried about! He thinks we're home and dry but I'm sure he said about having a credit check! So confused!!

ethank

You will probably get checked about three times before they release the money. They want to make sure you are a good risk!

The best thing you can do is obtain your credit reports, are you both up to date, do you have any defaults, are you on the voters roll? Is your mortgage affordable?

[Deleted User]

We registered with noddle and no missed payments and both on electoral roll. The letter we had the end of the grilling states 'this agreement is simply subject to a satisfactory valuation of the property'

So does that mean they are going to do the valuation next? Say for example the valuation comes back higher than we offered will they let us know just for reference? Be nice to know if we got a bargain!!

Gonzo33

In my experience a mortgage valuation never comes back higher than what you are buying for.

I don't know exactly how they work it in a branch but for intermediaries Natwest underwrite the person and then go for valuation.

[Deleted User]

I'm so confused! He went through every penny said we'd passed affordability and his credit check on us came back great.so was he underwriting us?

Dotty-Dot

My son is trying to buy his first new home through a well known house builder. The sales incentives were written on a form (nor CML form) and he has a copy. It included Help to Buy scheme (5% deposit), household stuff like appliances, stamp duty paid (£2100) and £1000 towards solicitors fees. Son was bowled over and loves the house. Solicitor had to be the one chosen by the builder (conflict of interest?) and not the cheapest either. Sales rep had assured him he would get everything on the incentive list even though we thought there might be a problem and told him there were ways of getting round things.

Bombsehell - Mortgage approved with Nat West who will not allow cash incentives so son has to pay the £3100 cash before the deal can progress.

Son has already paid out £1000 which he does not want to lose but feels like the builders mis-sold the deal deliberately.

Can anyone offer any help please?

kingstreet

Who chose NatWest, when there were incentives involved?

Is this a Help To Buy - Equity Loan case, as the thread is about Help To Buy - Mortgage Guarantee and you should have started a thread of your own?

Dotty-Dot

Sorry I have never been on a blog or forum before but will open a new post.