What does this mean?

cashorcheque

Hi,

I have a mortgage going through with Natwest. We sent them February statements that went up until the middle of the month - today they asked for them to go to the end of the month (have just sent them to my broker).

My broker forwarded me their email with the request for these extra documents, and it said

'We have underwritten the application for the customer named above but require more information to allow us to progress the case'.

What does that actually mean? Does it mean they've approved the mortgage and just need these documents to tick the final boxes? Or just that it's with the underwriters so still wait and see?

Had a mortgage knocked back with Leeds BS after they'd already done the valuation, etc, so feeling a bit nervous. We only have a 5% gifted deposit and though both our credit scores are 999 on Experian and in the 800s on the other two sites, I have gone over my overdraft limit once in the last three months and had a direct debit returned (paid it from another account the same day, but still). So I'm worried!

betmunch

It means they cannot make any further progress until you have supplied what they have asked for.


It does not mean its just box ticking, they will need to analyse the new information before they can make a decision.

cashorcheque

Okay great. I thought so, though I guess there is some hope since the recent statements are clean, and since they haven't rejected us out of hand on the other stuff, there is still a little bit of hope.

Thanks for the clarification.