FTB - Natwest

ACG

Gemma3378 wrote: »

Hi our full application went in on Tuesday via our mortgage advisor, accepted subject to wage slips, bank statements and husband tax calculations for last 2 years. Only problem is my bank statements have a couple of missed DD payments, will this be a definite decline? Husband banks with Natwest so doesn't need to provide his.

Did your broker pick up on the missed payments? Did you tell him about them?

Surely the advisor must have checked with natwest before submitting the application?

Gemma3378

Hi no as he made the full application and then requested the bank statements, we've passed the credit checks as no missed payments are registered, it was just returned direct debits which were paid by debit card so the payments were still on time and no bank charges

kingstreet

What's the loan to value?

Gemma3378

LTV is 95%

[Deleted User]

95% is definitely going to involve bank statements. Natwest ask for bank statements for all cases above 75% ltv

The underwriter may come back for an explanation. If its a case of money being in the wrong account then you will probably be fine. If its missed direct debits when the overdraft is already maxed and it took a few days to catch up then I would be dubious.

A lot will depend on the overall score of the case. If it snuck through just over the limit then it may decline. If it went straight through no worries then they may see it as a blip.

Unfortunately I doubt anyone can give you any reassurance as it will be down to the underwriter on the day. Ive certainly had cases go through with much worse bank statements. But I've also had cases decline where i could see no real reason for it.

Gemma3378

I had spare money in my other account, I dont have an overdraft. I just miscalculated and moved money into SAVINGS to early so was short on the day the direct debit went out. I didnt get any bank charges and the payment was made a couple of days later by debit card so the payments weren't registered as late

Gemma3378

Our valuation has been instructed, dont know if this is significant or not?

04brobins

Hi all, just reviving the thread as we’re about 3 months out now from our house being finished, we exchanged contracts before Christmas and I know that we’re going to need a mortgage offer extension in the next couple of months. 

I have just been offered a new job (not yet formally accepted or notice provided to my current employer) with a significant pay rise which would take our combined incomes up to around £85,000. I’m obviously aware this would be classed as a material change of circumstances despite the increased salary and so have spoken to my broker to as his opinion. He believes we should approach NatWest to ask the question armed with the new contract and offer of employment to check with them if it’s acceptable prior to me formally accepting and giving notice at my current employer. Personally I agree and think it’s much safer to be up front with the lender rather than withholding information which probably won’t, but could, catch up with us down the line at completion. Do any of the brokers/people with more knowledge than I on here have any experience with this kind of situation? With any bank, but if anyone has had this with NatWest specifically some advice would be greatly appreciated?

Thanks!