N&P Lending Criteria?

billybear1

Hi there,

So... I am trying to find N&P lending criteria in relation to defaults, looking to buy in Norwich - although I know they lend UK wide.

3 defaults registered to M:

1 Registered 5/2010 - Satisfied 3/2012 - £433
1 Registered 1/2011 - Satisfied 3/2012 - £201
1 Registered 4/2011 - Satisfied 3/2012 - £47

M: Income - £42,000 (£29,000 Salary £13,000 Bonus with guaranteed letter from company)

F: Exemplary credit file.
F: Income £22,000

Current mortgage running 25 months - no missed payments.

Will have £50,000 deposit on up to £250,000 new home.
No other credit.
No dependents.

Any ideas with N&P?

Slayerx

I assume the same as YBS since they are part of the YBS group.

I'm sure someone will come along and let you know its all doom and gloom shortly :-P

billybear1

I look forward to it

ACG

N&P are part of YBS.
I would probably just look at their criteria.

I wont bang on about how pedantic and frustrating they are. There is only one lender I refuse to use and its YBS.

billybear1

ACG wrote: »

N&P are part of YBS.
I would probably just look at their criteria.

I wont bang on about how pedantic and frustrating they are. There is only one lender I refuse to use and its YBS.

Thanks ACG - I appreciate your feedback.

billybear1

So we have been to a broker and have an AIP with Halifax, I am concerned though as our defaults are over 3 years, the advisor has said this is a positive step but not guaranteed, any insight as don't want to get too far in putting our current house up for sale and this has been placed wrong...

ACG

Halifax dip is a soft footprint.

Pretty worthless in my opinion and a waste of paper. It may not have even picked up the defaults.

billybear1

This is what I was worried about, would Halifax even lend on these criteria then? Or are we building ourselves up for a fall?

kiddakidda

Are they really that bad? Would the Chelsea BS share the same Underwriters? Might explain why I have had a mare with them recently.

ACG wrote: »

N&P are part of YBS.
I would probably just look at their criteria.

I wont bang on about how pedantic and frustrating they are. There is only one lender I refuse to use and its YBS.

billybear1

Sorry to keep asking questions here guys, but those who are well versed, would you see this being placed as am considering getting the house on the market this week and would hate to sell and be declined.

betmunch

Billy, The information you have provided isnt enough to give a recommendation, and many, including myself dont recommend lenders here.

What you need to do is get a full fact find done with a local broker who you can sit down with and talk it through. Take copies of your credit file with you so they know exactly what they are dealing with.

As you have already seen a broker, why are you not asking him these questions?
If you are concerned about the quality of the Halifax AIP (and rightly so if you ask me) ask him if there is anyone else that would consider you and try for an AIP with them.