Why have Natwest changed my income figure

Abbey1991

I applied for a new account for the switching incentive, and the monthly income I input on the website has been reduced on the paper version they sent me to sign.

Why is this? Was there also an outgoings box on the application that they have used to deduct from the income? Or have they somehow cross-referenced with something on my credit report?

Shakin_Steve

Give them a call and ask. It's pointless trying to guess.

Abbey1991

Shakin_Steve wrote: »

Give them a call and ask. It's pointless trying to guess.

I'm pretty sure that people on here know more than the average person that would pick up my phone call!

Zanderman

Abbey1991 wrote: »

Why is this? Was there also an outgoings box on the application that they have used to deduct from the income? Or have they somehow cross-referenced with something on my credit report?

Abbey1991 wrote: »

I'm pretty sure that people on here know more than the average person that would pick up my phone call!

Why would anyone here know - you're speculating yourself, as will anyone answering here.

NatWest's Customer Service may not know either - but they are, as average NatWest customer specialists, more likely to be able to help.

lisyloo

Your income wont be anywhere on your credit report.
Whats the difference in % terms e.g. is it accounted for by one being gross and another net?
Anything like gross/net in the descriptions?

bazzyb

They may well use some sort of income verification service as part of the application process which they would use and compare to your declared income - but it seems odd for them to then modify part of your printed application form in response to this.

badger09

bazzyb wrote: »

They may well use some sort of income verification service as part of the application process which they would use and compare to your declared income - but it seems odd for them to then modify part of your printed application form in response to this.

What sort of 'income verification service' do you have in mind? Can you give any examples?

msallen

badger09 wrote: »

What sort of 'income verification service' do you have in mind? Can you give any examples?

National Hunter presumably.

badger09

msallen wrote: »

National Hunter presumably.

As I understand it, and I don't know much about it:o, all National Hunter does is track/report consistency/inconsistencies. It doesn't verify income?

bazzyb

badger09 wrote: »

As I understand it, and I don't know much about it:o, all National Hunter does is track/report consistency/inconsistencies. It doesn't verify income?

Correct.

There are various income verification services. Callcredit have one that is widely used, Equifax and more recently Experian have also introduced similar. The main information lenders tend to verify is known as CATO (current account turnover).

DCFC79

Abbey1991 wrote: »

I'm pretty sure that people on here know more than the average person that would pick up my phone call!

I'm pretty sure the staff on the other end of the phone at the Natwest call centre will know more than us on here.