What's the Hold Up?... [NatWest 80% Mortgage]

coco__nutty

It almost kills me to read about others getting their mortgage offers through in just a week. Though, of course, I am delighted for all your positive outcomes!

We've been waiting since 28th of April now and I don't know what to think.
While I've also seen messages from people waiting for over a month (!), I am trying to make sense of whether no news is good news? If our case went to Underwriters and they aren't convinced, would they not bother reviewing it and bounce straight back? So is our wait a good sign?... I am not asking anyone to read a crystal ball, just any educated guesses to calm my nerves...

Quick snapshot of our case:
Credit Rating
Me - Poor (Can't be on Electoral Roll due to being foreign), 'Excellent' in all other areas
Husband - Excellent

LTV
80% on a £280k property

Income
Me - £30k
Husband - £60k

No credit/loans apart from Husband's Student Loan and a mortgage under his name (we are keeping the flat to rent out).
No CCJ's or defaults or anything like that. I do dip into my authorised/arranged overdraft but on payday it gets fully replenished and then some.

No dependants for either of us and just a couple of minor DD's (a Cineworld Card to my name and a Football Fan Club membership to his) + standard utility bills etc.



Does anyone have any insight on what could be taking so long and the longer I wait, the more I read the more my overdraft usage and poor (:( feeling helpless!) credit score worry me!

P.S. We applied to NatWest through an Independent Broker.

Jes0rKah

Hiya,
We're applying direct with Natwest - have you called their mortgage centre number? 08453 020190

You will need your mortgage ref number though, so they can access your case. I rang them yesterday & they were very helpful & told me what was happening with our application.

Hope that helps?

amnblog

So ask your broker.

amnblog

Jes0rKah wrote: »

Hiya,
We're applying direct with Natwest - have you called their mortgage centre number? 08453 020190

You will need your mortgage ref number though, so they can access your case. I rang them yesterday & they were very helpful & told me what was happening with our application.

Hope that helps?

TIP

When applying through a broker do not contact the lender direct unless the broker explicitly asks you to.

Otherwise you are risking confusion and problems.

Jes0rKah

amnblog wrote: »

TIP

When applying through a broker do not contact the lender direct unless the broker explicitly asks you to.

Otherwise you are risking confusion and problems.

Oh sorry! Don't want to cause more issues!

I hope your broker can get more info for you. Good luck with it all.

coco__nutty

amnblog wrote: »

Jes0rKah wrote: »

Aw, thank you both!

Our broker has obviously (to me) taken on the case thinking it's going to go through (otherwise, he won't get paid).

The latest update we had from him was last week and he said the case was still with the Underwriters...
I had a ping from my Equifax late last week saying NatWest carried out another 'Follow Up' search on my credit file, which sounds like they are doing something with the application...

I suppose, I just want reassurance... or a resounding 'no' from industry buffs?

My OH is offshore at the moment, working nights, which is also severely hindering my patience and nerves

Thanks again!
Cora

amnblog

Agree with your adviser how often you want him to update you - or when to expect the next update.