Natwest Mortgage questions...

downs523

I have a meeting tomorrow regarding a mortgage with Natwest and before I go can anyone help with the following?

Which credit checks do they do.. Experian or Equifax? I saw on an MSE article that they do both but can anyone confirm this? Has anyone recently applied?

Thanks

grumpybee

They definitely do experian as we've just applied and the searches are shown on my experian report. Not sure if they use others too!
Good luck!

downs523

grumpybee wrote: »

They definitely do experian as we've just applied and the searches are shown on my experian report. Not sure if they use others too!
Good luck!

thank you for the reply, i have one default from nearly 3 years ago and it only shows on Experian. Guess ill see what they have to say

Does anyone know any mortgage lenders that do not use Experian?

thanks

Chris

Thrugelmir

If there's any "nasties" on file anywhere then they will be detected. CRA's share data when enquiries are made.

starlight_starbright

I had a mortgage meeting last week and using NatWest for my mortgage.

Here is useful info I can share:
* Natwest use Equifax - definitely check that one before the meeting
* Make sure you know the addresses and dates you have lived at during the past 3 years - it is important you were on the electoral role
* Payslips - even if you bank with Natwest so they can see your money credited into your account, its useful to have the last 3 months
* ID
* Evidence of savings to fund deposit
* Know where your deposit is coming from (your savings, investments, family assistance etc)
* Last 3 months of bank statements - unless you are a Natwest customer like I am and then its nice and easy!
* Know any discretionary outgoings you can discontinue if you needed to pay for your mortgage if for any reason you struggled (personally I could give up my gym membership and I pay into my pension each month through the work and can change the % of my salary each time)
* Have a think about what is more important to you - knowing the monthly mortgage payments or whether you wouldn't mind if they varied
* Natwest can offer 2 and 5 year fixed term - have a think about your plans for the next few years

Those are a few things that come to mind, make sure you allow plenty of time for the meeting!

Mortgage offer is then subject to underwriter approval and valuation.

Good luck!

downs523

starlight_starbright wrote: »

I had a mortgage meeting last week and using NatWest for my mortgage.

Here is useful info I can share:
* Natwest use Equifax - definitely check that one before the meeting
* Make sure you know the addresses and dates you have lived at during the past 3 years - it is important you were on the electoral role
* Payslips - even if you bank with Natwest so they can see your money credited into your account, its useful to have the last 3 months
* ID
* Evidence of savings to fund deposit
* Know where your deposit is coming from (your savings, investments, family assistance etc)
* Last 3 months of bank statements - unless you are a Natwest customer like I am and then its nice and easy!
* Know any discretionary outgoings you can discontinue if you needed to pay for your mortgage if for any reason you struggled (personally I could give up my gym membership and I pay into my pension each month through the work and can change the % of my salary each time)
* Have a think about what is more important to you - knowing the monthly mortgage payments or whether you wouldn't mind if they varied
* Natwest can offer 2 and 5 year fixed term - have a think about your plans for the next few years

Those are a few things that come to mind, make sure you allow plenty of time for the meeting!

Mortgage offer is then subject to underwriter approval and valuation.

Good luck!

Thank you very much for all this information, this meeting is just an initial one to basically see if i am eligible or not and how much i will be able to lend, i bank with them also. Equifax is clean, i have a copy of Equifax, Experian and noodle credit reports (default showing on the last two). They all appear correct, also my wife has checked and hers is correct. They said they were going to call this morning with what i needed to bring so thankfully i now have this information.

another question...

i have two loans which equate to approximately £400 PM, i know they will take this into account but when i sell my property these loans will be paid off with the equity i will receive. Will they accept this?

starlight_starbright

Hope it all goes well though!

I'm not sure about the loans but the mortgage adviser should be able to give you some advice. I found the mortgage adviser at Natwest to be one of the most helpful ones I've spoken to recently.