nawtest underwriters

cwaless100

Hi,


I am a NatWest customer with current and savings account's with them. I have adverse credit history with a default and some missed payments from my student/first job days 4+ years ago, but have been 'clean' so to speak since then, with regular payments, salary ranging p from £15-£26000 during that time. Have applied for a mortgages of £75000 on a £95000 property with NatWest. I had an AIP so went through full application. They have sent me paperwork to sign and have asked for proof of employment etc. The letter is a bit misleading as it says


'What we will do next.
A satisfactory full credit assessment has been undertaken'


Does that mean they are doing it or will do it? have the underwriters therefore approved it?
I got told no one could give me a mortgage two and half years ago so I'm getting very anxious about this! Any advice on people in a similar situation or working in this background greatly appreciated.
I've read stories about NatWest being quiet strict but they were quiet dated so not sure if they were the best people to go with but was hoping they would be lenient as I bank with them.

mcpitman

From what I understand you have gained an AIP (Agreement in principle).

The wording of your letter means that they have referred the AIP for assessment, this has been assessed and they now need verification (proof) of your income and employment etc.

If these are provided and the data presented matches the data you input on the application, the AIP is could be approved.

The AIP will be an approval to lend you x amount based on your credit profile and data you have provided.

After that you will find a property, have the valuation completed, they may need to dot some "i"'s and cross some "t" but as long as nothing changes and the property is mortgagable, you are well on you r way to an offer approval.

cwaless100

thank you :-)

Thrugelmir

Full credit searches are rarely performed at the AIP stage. They cost money to perform. Speculative enquiries often don't generate business.