Natwest mortgage via broker

mplunk

BaileyMoselle wrote: »

No you are stressed and not thinking straight. My broker told me once at valuation you have passed the underwriters. Relax - you are almost there.

Yes, I like you, thank you

ACG

mplunk wrote: »

ACG so in your experience, if they are doing a valuation it means they will offer a mortgage, unless there's something wrong with the valuation itself?

In short yes.
Every case I have submitted to them which has passed the DIP has gone to offer.

lizards

ACG wrote: »

In short yes.
Every case I have submitted to them which has passed the DIP has gone to offer.

Sorry for the thread hijack, but are you basically saying that a NatWest DIP is pretty reliable as to the eventual outcome?

Thanks!!

ACG

In my experience yes - but the DIP is only as good as the information entered. If you enter dud info, your going to potentially get a dud DIP.

lizards

ACG wrote: »

In my experience yes - but the DIP is only as good as the information entered. If you enter dud info, your going to potentially get a dud DIP.

Thank you!! Yes, as far as we know (and we've checked all three credit reports too which are clean) all is above board and we've been totally honest with our broker who I presume has been honest in turn! The DIP was fine.

They wanted more clarification over my husband's pay package (it's complicated and varies month to month) so that's the only potential sticking point. The P60s show no problems with affordability though.

We should apparently hear Tuesday..

ACG

The last case I sent to natwest:
Mr - self employed and employed - fairly straight forward to submit figures although a little bit out there.

Mrs - paid 4 weekly. Also paid standard wage, overtime days, overtime evenings, overtime weekends, overtime weekend evenings and bank holidays. There was very little consistency in her pay packet in how she ended up with what she did. The only consistency was the final amount was fairly similar.

I had to sit there and go over the last 7 payslips, add up all the individual bits, divide by 7 (payslips) and multiply by 6 (months) - to give them an average for each bit and then add it all up.

In all honesty I was expecting it to be a nightmare but I gave them an explanation with what I did and it went to their risk team to check (held things up by 48 hours) but they never got in touch to question anything and it went straight through to valuation.

Aside from the fact they do not use email and you can only get in touch by fax/phone/post and possibly carrier pigeon theyre actually not difficult to deal with.

lizards

Thank you! That's very reassuring. My husband's pay consists of basic salary (60%-ish) then the rest is all guaranteed and consists of annual bonus, overtime and then a huge part is shares which we sell when we want/need to. NatWest wanted clarification on all of that which our broker has given them. We were told Tuesday from that on Friday, which sounds like 48 hours/2 business days to me, so perhaps it does have to go to their risk team? His employer is a household name whose stock only ever seems to go up (for now..) so hopefully that should help.

I wouldn't be quite so anxious but we're in rented and we just found out our landlord wants to sell asap. We'd hoped to save a 10% but 5% it has to be now. With our children in the local schools and quite literally nothing big enough to rent anywhere near our local community, we need this mortgage. Very stressful!!

Playitsam

Just had an update from our broker, Natwest want to see evidence of my annual bonus from this year or last years payslip (which i sent immediately) and also confirmation of my student loan balance, is that a normal request from the underwriters guys?

Princessladonna

Hi,

I had a request from Natwest via my broker for Decembers bank statement evidencing ours salaries got paid into both mine and my partners accounts. I've sent this straight away. How long has you application been going through with Natwest? This is driving me insane lol

kingstreet

Playitsam wrote: »

Just had an update from our broker, Natwest want to see evidence of my annual bonus from this year or last years payslip (which i sent immediately) and also confirmation of my student loan balance, is that a normal request from the underwriters guys?

I had one last week.

Annual bonus paid in February. I took the lowest bonus of the two years and evidenced it with Feb 2014 and Feb 2015 payslips.

Case was accepted with just the submission docs and nothing further requested even on 95% on HTB - MG.