Appetite for credit

Mounty72

Hi I wonder if anyone can offer some advice please. We have applied to natwest via a broker for new mortgage deal with additional borrowing as we have incurred debts whilst renovating our house. Our property is valued at £300,000 our current mortgage is £133,000 and we wish to add £50,000 to the mortgage. Natwest have said we have an appetite for credit and are a high risk. Does anyone have any suggestions of mortgage lenders to approach or loans to get to consolidate the debt.

Thsnks

David_White

Your first port of call should be discussing it with your existing broker as no doubt they understand the in's and out's of your case and will have a Plan B.

Sounds like you've been a bit unlucky potentially, so I wouldn't completely lose faith in the broker unless there's something you've not said.

Thrugelmir

Mounty72 wrote: »

Natwest have said we have an appetite for credit and are a high risk.

Lenders will analyse your usage of credit for the past 6 years. Possibly they've detected a trend which has profiled you in a certain category of borrower.

ACG

Sounds odd, on the face of it Natwest would have been one of my first choices. As David says, I would stick with your broker as they have not chosen a bad lender for the situation (based on your post).