Natwest mortgage complaint.

angieb1606

After some comments and thoughts on this one.

Last year we applied for a mortgage with Natwest on a new build property, it got turned down only because as stated on the survey report it was "to close to commercial premises " so they were not happy to lend on it, We pulled out and after a very stressful 7 months in February we ended up taking the developer to court as he refused to return the £500 reservation fee (we won)
We found our current home and moved in in September last year mortgage with Natwest so no problems with us in the lending matter,
Due to all the hell with the developer and being told a few times that he had a buyer for "our" house and curiosity killing the cat and all I have kept an eye open on Land registry, Well today there it was i brought the report and felt like someone had punched me, There in black and white name of lender Natwest.....
So I have now phoned Natwest and opened a complaint I am asking for a refund of the survey fee but would I be in the wrong to request anything above that as well let's face it the house hasn't grown legs and moved it's still in the same place still surrounded by commercial property, what would you do in this situation please.

RelievedSheff

I wouldn't get upset about it.

You found a different home and moved in.

[Deleted User]

You can ask for anything you want, but they won't provide any sort of refund above the survey fee, and I doubt you will get that.

I would move on and enjoy your new home.

haras_nosirrah

Property around commercial can be down to valuers comments. It sounds as though the surveyor you had was more cautious than the other one. It can be the luck of the draw

It won't be Natwest fault though. They take guidance from the surveyors so if you have a complaint it is against the surveyors not Natwest

davidmcn

There could have been different lending criteria applying to the other buyer (e.g. if the LTV was lower for them than for you), or it could simply be a difference of opinion between the valuers who did the valuations about whether the property was "too close". So I wouldn't expect much from a complaint.

ACG

You may also find the applicant had a bigger deposit, lower risk and so they may have done a desktop valuation rather than going to view it.

It could have been a different surveyor.

Potentially lower purchase price making it less of a risk.

Any number of reasons. Just be thankful you are not stuck with a property that may be difficult to sell down the line.

csgohan4

Don't forget lender's criteria change all the time, which of course is not all is available publicly ever