Mortgage Application following AIP

cat1984

Hi, I am new to the forum and I am looking for some advice (reassurance - help)!

My husband and I received an AIP on Monday and were extremely lucky to find a house and have an offer accepted all in a week (its been a whirlwind).

We received our AIP via a mortgage broker who was nicely surprised (due to my husband being self employed and not earning a particularly high salary over the last 2 years - however I earn a good wage) we received the amount we wanted (not that we were successful) based on the information we provided him about out finances.

This process has come a little earlier than expected and my finances (credit score) aren't quite as good as I would have wanted as this stage (still paying debt - not too much) and have a very poor credit score (although a number of positives on my report as well as negatives).

My question is... we are due to meet with our broker again tomorrow to provide him with a form of id, 3 payslips, and 3 months worth of bank statements ready to officially apply for the mortgage and I am petrified!

Can any advise at this stage what would be looked at that wasn't taken into consideration as part of the AIP being awarded and if there was a high potential we could be turned down?

I am worried that our broker did ask for details on my debt and how much I was paying monthly, but not about any other outgoings I have i.e. phone contract, car insurance, petrol, gym memberships etc.

Any advice would be greatly appreciated

stalkah

Who is the AIP with?

cat1984

Hi there,

Thanks for your reply.

It is with Natwest.

amnblog

You are meeting the broker today Cat - all questions are best addressed to him as he knows what is going on.

EShepherd

Hi Cat

I am in the same position as you, our mortgage broker has looked at both of my credit reports and advised appropriately. Did he know about some of the potential poor credit issues prior to doing the application?

cat1984

Amnblog - thanks. I guess I was just hoping someone for a little reassurance in preparation for this evening. Perhaps you can advise.. for the bank statements, do I need to provide all out-goings and in-goings? Many thanks.


EShepherd - Yes, he did. I even asked whether it was better for me to wait until August time when things would potentially be a little better but he advised it probably wouldn't matter. I do trust him, and he seems very knowledgeable, I just appreciate he cant perform miracles