Natwest: worth going to full application?

katee85

I presently have a mortgage with Natwest which is subject to a fixed rate early repayment charge until July 2020. I am now needing to sell and relocate. Ideally I would like to buy with my partner, but thought that would be out given my non-standard income (I work in standard PAYE employment part-time and study part-time receiving a stipend).

I spoke with Natwest with regards to establishing the exact repayment charges, but whilst on the phone they advised they would consider my stipend as its long-term in nature (payable until 2024) and they can port the product rate on the existing mortgage and waive an early repayment charges. They offered to run through an AIP on the additional borrowing required to purchase:

£131,000 is the existing redemption
£44,000 additional borrowing
£25,000 deposit
£200,000 purchase price (90 LTV)

And indeed agreed to provide an AIP based on the above. Great you say...until we subsequently checked out my partner's credit score. He took out a hire purchase agreement with the last twelve months no problems, rental tenancy, utility provider search etc, so had no reason to think there was any issues. It appears he has a CCJ from 2013 he knew nothing of (the date is registered to an address he had left some six months earlier so any correspondence for this never made it to him).

My credit score is strong. Debt levels consist of a very small manageable loan which my partner has and has always kept up to date on, we both have hire purchase car commitments, but again, adhere to all payments. We both have modest credit card balances on interest free, but would settle these as part of the house sale regardless. He banks with Natwest, no issues there. Combined income is £54K.

My query is, though passing the soft credit check and gaining an AIP, is there any point proceeding with the Natwest application? My gut says it is a waste of a hard credit check as they are quite a particular lender that will just say no, but the incentive to try is obviously a good rate and avoiding early repayment charges. In your collective experience, would you try?

Lungboy

£175k on £45k income with CC debt and car HP agreements sounds tight, but I'm no expert.

katee85

Oops! My bad, that was a typo of the favourable kind. Our income is £54K not £45K. I have edited.

I should also add the CC debt is literally the advance listing estate agent fee, at the time it seemed to make sense to whack this on an interest free CC and keep earning interest on the current account balance, hence why it will be paid off. Though I was surprised that Natwest didn't even want the figures here, just said if it were being settled then they don't account for it.

ritz55

I think NatWest are offering some of the better rates at the moment. They also work on 4.85 times income so seems a good option.

Sibz

I assume you have contacted Experian/Equifax to have the disputed ccj removed/queried?