HELP - First time buyer

Kyork

HELP - First time buyer

Long story short – I have a NatWest mortgage in place for £74,000 and an AIP for £85,500, unfortunately the sale of this house fell through in September. The mortgage was arranged through countrywide; after this sale fell through I have to put in a complaint regarding how countrywide handled everything.

Now I’ve found a new property I wish to purchase at £97,000 with a 10% deposit, and I am going to go straight to NatWest directly this time.

I did the agreement in principle on line and they have stated they can borrow me up to £93,500, when I called to make an appointment to process the full application they stated they could only borrow me £50,000. After being put through to a mortgage advisor she said she cannot see why it’s come up with that and to come in with my credit score printed and we will do a full application and just hope for the best basically.

I have £2,400 on credit cards and £3,200 loan. Equifax score 422, no missed payments, CCJS or bankruptcy.

What should I do?

sammyjammy

Score means nothing its the actual data that means anything, missed payments, level of debt, amount of available credit used, affordability, income etc. You need to print your credit report not the score.

No one will borrow you money they will lend it to you, maybe.

Kyork

Borrow/lend you know what I meant, but thanks for your input to someone who’s currently v stressed out. Appreciated

csgohan4

Never arrange mortgages or in fact any services through Estate agents very important rule. They do not have your interests at hand. Only their commission.

Try a local in dependant broker who charges on mortgage offer, you could try free ones too, but avoid the online conveyor belt ones

With Natwest your probably limited in borrowing due to the debt you have at present

Jox

Can you pay off the credit card?

ap1985

Would you not rather go through an independent broker who can assess your case and advice your correctly rather than going directly to a lender?