ReMortgage to Consolidate Debts - Natwest

RavingMad

Have you considered taking out a loan? Not as cheap as the mortgage route but at least it's not secured to your house. Stretch out the term of the loan and it'll be cheaper than min payments

Caz3121

RavingMad wrote: »

Have you considered taking out a loan?

the OP has £42k of debt against a £40k salary...there would be very limited (if any) options for unsecured loans ...

Landofwood

wannabeprudent wrote: »

Maybe the OP broker has spoken to their NatWest BDM who in turn has spoken to one of their underwriters on a view on the application and it is them who have given the 60/40 response.

I know in my case the broker spoke to his BDM on my specifics who spoke to an underwriter who said based on my scenario it should be favourable to them, these were exact words I was told by broker.

I suspect the BDM or underwriter cannot give cast iron assurance but have to use language to indicate where chances are greater than 50% and not to mislead by saying its 100% in the bag.

Underwriters have a specific set of criteria to work on. Either you meet the criteria or you don't.

I can't imagine them saying things are 60/40 in your favour. Sounds like nonsense.

If OP does not meet 40% of the criteria, he is in bad shape.

SpecialMcSpesh

I have been approved :beer:

Does anyone know roughly how long it will take before monies are released? I'm waiting on a re-mortgage questionnaire to be sent out and the mortgage deed.

Thanks

Thrugelmir

SpecialMcSpesh wrote: »

I have been approved :beer:

Does anyone know roughly how long it will take before monies are released? I'm waiting on a re-mortgage questionnaire to be sent out and the mortgage deed.

Thanks

If you've been approved then you would have already received an offer.

What does the re-mortgage questionnaire consist of?

SpecialMcSpesh

I've had the formal offer from Natwest yesterday and I'm just waiting on a re-mortgage questionnaire and mortgage deed from their legal side - Enact.

I'm not sure what the questionnaire is as I didn't do one of those when I bought the property.