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FTB likelihood of successful application with 3 late payments in last 2 years?

Coco42
Coco42 Posts: 4 Newbie
in House buying, renting & selling
Hi everyone,
I am applying for a mortgage on Tuesday with NatWest (choice of mortgage broker) AIP already done for £97650 with deposit of 10% on top.
The only thing is I’m really nervous as I have 6 late payments on my file over the last 6yrs. The most recent being 13 months old and 24/25 months old (both catalogues Next and Littlewoods for small amounts)
Just wondering if anyone fancies my chances. I have no debts but my affordability is a combination of my wages £16kpa, tax credits £5k and maintenance £2k and a few other bits totalling approx £24-25k. Please advise?

Comments

  • ACG
    ACG Posts: 24,981 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    If you have an AIP already through the broker, I would say 90%.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Coco42
    Coco42 Posts: 4 Newbie
    Thank you that’s really reassuring! I’m pretty desperate to get out of renting and secure a future for me and my daughter. I hope it works this time and I’ve done enough to make the bank happy. Will let you know the result.
  • AdrianC
    AdrianC Posts: 42,189 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper
    The AiP says "We've had a reasonable look at you, and we're happy to lend you this much". It will take account of your credit history.
    The final offer says "We're definitely happy to lend to you against this particular property as security".
  • ACG
    ACG Posts: 24,981 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    AdrianC wrote: »
    The AiP says "We've had a reasonable look at you, and we're happy to lend you this much". It will take account of your credit history.
    The final offer says "We're definitely happy to lend to you against this particular property as security".
    The only slight thing is they need to check bank statements and payslips. So assuming not loads of gambling transactions bouncing DDs, going over an overdraft all the time and the property values up, you should be fine.

    We have used Natwest more than any other lender this year. They have tailed off a little bit in the last 2 months or so but in the main they are a very good lender at the minute.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Coco42
    Coco42 Posts: 4 Newbie
    Completed full application today, broker says he can’t see anything to prevent it going through. So waiting game now. Cheers for reassuring messages guys. Hopefully good news in my next post!
  • george4064
    george4064 Posts: 2,955 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Coco42 wrote: »
    Completed full application today, broker says he can’t see anything to prevent it going through. So waiting game now. Cheers for reassuring messages guys. Hopefully good news in my next post!
    Good luck!
    "If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes” Warren Buffett

    Save £12k in 2025 - #024 £1,450 / £15,000 (9%)
  • Coco42
    Coco42 Posts: 4 Newbie
    Thank you, got confirmation they’re happy with application just waiting for valuation to be completed. Then full offer should be in post soon before Christmas fingers crossed!
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