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Mortgage Refeered HELP
Comments
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That's what the partner says, would it not have just been declined ? If all was that bad ?
It's the perfect first home for our family0 -
Visible PDL activity is an automatic decline by NatWest at underwriting stage, as is poor current account conduct; so start looking for an alternative lender.
Preferably via a broker so you don't pick the next worst lender in the line for such an issue.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.0 -
Referred, not declined. You don't have to be inactive. You can tell the lender why you did it and show bank statements that show you didn't have financial need but just did it because you were told nonsense about it helping. Don't let them wonder, prove that you just screwed up on the credit scoring aspect.0
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If Natwest is an automatic decline would they not have asked this question at the application stage as they did not otherwise we would have said ?0
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As I said, at underwriting stage, not at submission.
NatWest is the one lender brokers are told to steer completely clear of where there is;-
visible PDL activity in the last year
and/or
visible current account poor conduct, such as unpaid or unauthorised borrowing charges in the last three months.
Don't take my word for it, phone Birmingham and ask them yourself anonymously 0845 900 1110. I don't want your application to be declined, I'm suggesting you plan for the worst though.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.0 -
Just spoke to natwest who have said they will consider any application with PDL sounds like your right and they were just fobbing me off as they didn't just want to say an automatic decline0
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Go to a whole of market broker, you may well get a better deal anyway. PDLs will wreck your score, so a broker will have better understanding and a good range of products, but it will be costly.
Can you not wait a while longer before you borrow?0 -
Definitely see a broker. I didn't spot that at the start ... There's no need to wait, do it today. You can put another application in (with a suitable lender) immediately, without waiting for the reply if you don't want to waste any more time.0
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It will or it won't?Just spoke to natwest who have said they will consider any application with PDL sounds like your right and they were just fobbing me off as they didn't just want to say an automatic declineI 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.0 -
Natwest stated they will consider the application0
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