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Porting mortgage with Natwest - Advisor questions + Answers?

Reason123
Posts: 163 Forumite


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
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
0
Comments
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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.I am a Mortgage BrokerYou should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.
This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
If you want a slicker service forget going direct and use a broker.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
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?0
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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.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
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Yeah they have accepted our offer subject to ours selling..0
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