Natwest - Help to buy EL advice.

fioney25

Hello,


I've reserved a new build house and I have a 5% deposit. The house is due in June 2015 and the housing fim "Kier" are now requesting that I arrange for a solicitor and lender/broker to be put in place. Not sure why as like I said the house isn't ready until June and we have no chain and as it's Christmas I'm finding this really stressful ideally want to leave it until after Christmas if I can!!!!!!!


I know that there aren't many lenders who offer HTB - EL but I've heard good things about Natwest.


If anyone has used Natwest could they let me know how you got on with them and how smooth the process was? and if possible what they requested on application?


I've recently started a new job (beginning of Nov) my probation ends beginning of Feb so I don't want that to jeopardise anything and was ideally going to wait until I passed it. Would they be picky about that???


Sorry for blabbing on and hopefully someone can help me.


Thanks,


ps. I'm not interested in using a broker at the moment, strictly lenders.

Thrugelmir

The developer will expect you to exchange contracts to commit to the purchase. Reservation is not such a commitment. Failure to exchange will result in the property being remarketed.

Once contracts are exchanged then work will be priotised on the property before that of others. For very obvious reasons.

fioney25

I completely understand but we did reserve the plot for £500 which if we back out we will lose. I just don't feel that a lender will accept myself based on the fact that I'm in a probationary period although my credit is good, I have no bad debt etc.
This is the only thing holding me back current to pursue the mortgage process. It is some what daunting any way and with this added pressure it makes it even more stressful!

amnblog

fioney25 wrote: »

ps. I'm not interested in using a broker at the moment, strictly lenders.

Then you are making a big mistake.

fioney25

In what respect? - the fact I won't get accepted?

OneEngland

fioney25 wrote: »

In what respect? - the fact I won't get accepted?

For a start Natwest offer one of if not the most expensive HTB EL product offerings

amnblog

From what you have told us, you do not know enough about lenders criteria to get your selection right - unless you get lucky.

fioney25

I am a first time buyer - I am clueless to this whole process. Natwest - HTB EL was a recommendation from a family friend so any advice from you guys is welcomed and appreciated!!

Mortgage_Mark_2

Ah so you want the guidance of a broker, for free? We aren't actually allowed to name lenders on these threads anyway in fairness.

Why not speak to a fee-free broker?

fioney25

No, I never mentioned I wanted just guidance from brokers - just anyone in general who had any experience with Natwest HTB - EL scheme.

amnblog

It is entirely a matter for you what you decide to do Fioney but your interests are better served engaging a professional than taking pot luck with a Lender or getting war stories on here.