Natwest remortgage credit check

bruciebounus

I am trying to remortgage to Natwest, borrowing some more money for consolidation as well as home improvements.

I have passed the initial meeting and credit check, and am just waiting for underwriter approval.

However I have just received an unexpected bill for approx £700 which I have no choice but to put on my credit card.

Is this going to scupper my application- do Natwest carry out additional credit checks before completion?

Thanks in advance.

Thrugelmir

bruciebounus wrote: »

borrowing some more money for consolidation as well as home improvements.

Is this going to scupper my application- do Natwest carry out additional credit checks before completion?

Seems as there's plenty for the underwriter to chew on already.

bruciebounus

Yes indeed. So in answer to my question i assume you are answering in the affirmative? Do you know if they perform a secondary credit check?

WillyWonga

I recently went for a Natwest mortgage. In total there were 3 credit checks carried out by Natwest. The first when ran through their system for an decision in principle, then a second when the underwriter looked through it and a third when passed to senior underwriter for final approval. They were all about a week apart.

If you put something on a card now might not reflect balance with credit ref agencies for approx 30 days. If you mentioned that part of the remortgage was to clear the debt you may escape with it.

Thrugelmir

bruciebounus wrote: »

Yes indeed. So in answer to my question i assume you are answering in the affirmative? Do you know if they perform a secondary credit check?

The underwriter makes the decision. "Passing" the credit check is merely part of the thinning process of applications received.

bruciebounus

Thank you willlywonga, that is really helpful.

bruciebounus

Just to update, this went through fine in the end. It took just over 2 weeks from application to funds clearing.