West Brom building society application referred

Fitzkepp

Hi all,

Put in an application on a product from West Brom building society today via L&C.

Got a call a while ago saying it had been referred to an underwriter. Guy said it's pretty normal, especially with FTB's, but some cursory googling says otherwise.

Any thoughts? Our finances are in good nick, we're both on the electoral rolls at the same place for 4 years, only potential issues I can think of;

1) I have, until the last 6 months, dipped into my old student OD towards the end of a salary month. Not good practice, but tbh I had no idea it would be damaging to my credit chances. When we got an AIP from Barclays not long back in March they had no issue with it at all.

2) I have a missed payment on a credit card from January 2011, and prior to that one 2 months late in Feb 2010. Both accounts since paid up and settled, and nothing within last 3 years.

3) Our address - it's a flat, within a building that has not only a number but a name. It is a bit of a pain in the backside at times, coming up differently on different systems. It hasn't been an issue when getting credit previously though (I took out a Tesco car loan in Feb 2012, which I repaid early in Sept 2013, with no issues at all)

So, is it a pretty standard procedure for FTB's (we're 90% LTV and within the affordability criteria) or should i be worrying?

Cheers

Matt_ftb

I'm not a broker so I won't comment on that but underwriting is perfectly normal.

I imagine 99% of applications are going to an underwriter at the moment!

Fitzkepp

ok ta, be interesting to see if a broker pitches in

Thrugelmir

Overdraft usage will have been flagged up as an issue in the checking process. So yes referral to an underwriter would be normal procedure.

Fitzkepp

Ah, well, fair enough. Hopefully the fact it hasn't been in the red at any point since christmas and a rising balance will settle the issue then. Interesting that during the sitdown with Barclays they weren't concerned in the slightest.