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AIP and late mail order payments.

Jeff01
Jeff01 Posts: 10 Forumite
in Mortgages & endowments
Hi first post here and just after a little advise. Me and my wife have an AIP with Natwest via our mortgage broker and have now had an offer accepted on a house so ready to make the full application. Today I thought I would check my credit reports with equifax and experian and due to my naivety I have made 8 late payments over the last 5 years on a mail order catalogue. All my other credit accounts are fine with no missed payments I have simply missed these payments due to being unorganised and unaware that it would show up on my credit report - daft I know! The account was actually settled about 6 months ago and the last of these late payments was 9 months ago. Is it worth continuing with my natwest application or should I be looking at another lender now? Appreciate any advise here?
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Comments

  • Jeff01
    Jeff01 Posts: 10 Forumite
    Could anyone advise here am I wasting my time even applying for a mortgage given the previous late payments?
  • ACG
    ACG Posts: 24,685 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    What is the LTV?

    If you have passed the AIP then I suspect you will be fine but the lower the LTV the better the chance of it going through.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Jeff01
    Jeff01 Posts: 10 Forumite
    Many thanks for the reply...Only 90%. Are natwest known to be slightly more lenient or should I ask my Broker about other options? I'm going to inform him of the late payments on Monday.
  • kingstreet
    kingstreet Posts: 39,315 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    If the AIP was done on the NatWest website, no credit search has been done yet. It will be done at full application only.

    If the broker has used MTE, it will have been credit searched.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • Jeff01
    Jeff01 Posts: 10 Forumite
    What is MTE? will I be able to get a mortgage with these late payments or am I wasting everyone's time?
  • kingstreet
    kingstreet Posts: 39,315 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Jeff01 wrote: »
    What is MTE? will I be able to get a mortgage with these late payments or am I wasting everyone's time?
    MTE is the Mortgage Trading Exchange, another way of applying for a mortgage, rather than the lender's website.

    No-one can say if you will be successful. It depends on the lender, the credit file on which these things appear and the overall case quality.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • Jeff01
    Jeff01 Posts: 10 Forumite
    Well the broker told me Natwest done a hard check with the aip so I can only assume he applied through MTE. If it was a soft check would anything show up on my equifax one experian report?
  • kingstreet
    kingstreet Posts: 39,315 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    An ID check, perhaps?
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • Jeff01
    Jeff01 Posts: 10 Forumite
    It shows up as a credit check.
  • Jeff01
    Jeff01 Posts: 10 Forumite
    It also says opt in. Does that mean it was a full credit check?
This discussion has been closed.
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