Porting mortgage with Natwest - Advisor questions + Answers?

Reason123

Hey

We currently have our house on the market and have had our offer accepted on another property.

We are 6 months into a 2 year fixed Natwest deal.

On the Natwest affordability phone call we 'should' easily be considered - Natwest could lend us up to £220k + our deposit..
Our house is up for sale at £210k and the house we have had our offer accepted for £235k. We 'only' need another £25k!
We currently owe £148k so 'should' have £62k in equity deposit.
(If we get the asking price!)

This Thursday I have an appointment with a Natwest mortgage advisor for porting our mortgage + apply for the required additional borrowing.

Im told this appointment could take up to 2 hours?! A friend told me they will ask how much I spend on everything including hair cuts / toothpaste everything!?

I used a broker for my recent re-mortgage and I didnt give any of this info across so I assume he used some 'standard answers' - answers that lean more favorable to an acceptance? (I have asked my broker for this info but I got no response)

So what is this test/quiz/set of questions etc called and are there some standard answers I could use in order for us to get into our next home!

Thanks

David_White

My understanding is that Natwest rely on national statistics for personal outgoings, could be different in branch though.

They'll have a standard appointment time of 2 hours, it probably won't take that long.

Just be honest with the Adviser, as long as you're not massively over spending I'm sure you'll be fine.

amnblog

If you want a slicker service forget going direct and use a broker.

Reason123

I asked my broker initially before proceeding with anything and he told me he couldnt do anything and as I am porting+additional borrowing with Natwest. I would need to deal with the bank myself direct. If I wanted to take a hit and accept the early repayment fine (£3k) then he could do it for me with another company?

amnblog

He's wrong. He could do it and they would pay him for the privilege.

Perhaps he does not want the business for some reason.

Thrugelmir

Reason123 wrote: »

We currently have our house on the market and have had our offer accepted on another property.

How do you intend to proceed if you haven't sold your property? Are the vendors continuing to market the property even though they've accepted your offer.

Reason123

Yeah they have accepted our offer subject to ours selling..