Underwriter wants more info

goldilocks0507

I have applied for a 95% ltv with NatWest. I have provided them with all the documents and my valuation was carried out last week. The underwriter now wants to know if I’m renting or living with family (I moved back in with my dad to try and save up for a deposit). Why would they want to know? Surely they can see on my bank statements that I haven’t been paying rent? 

HampshireH

Because they want it confirmed. If you had a tenancy agreement elsewhere you may have a commitment to pay.

Just because you aren't paying rent doesn't mean you shouldn't be.......

What I mean by this is many people don't pay the bills they are liable for. Of course they need to confirm these sort of things.

For all they know you could be liable for rent and just not paying it.

lspell1

Because they've checked your bank statements and seen there is no rent coming out of there. Therefore, if you are renting and not paying your rent, why would they want to lend to you? Tell them your living with Dad, paying no board to him and that will likely be the end of it.
You're lucky with the timing, you're likely one of the last people to have a physical valuation completed.

goldilocks0507

@HampshireH @lspell1 thank you for your reply both! I’m worried that they are purposely dragging things out because of the current situation. I can see them pulling the 95% mortgages because of everything going on. 

Thrugelmir

If they wished to decline your application then they could have done so already. No need to drag matters out at all. 
Even if you obtain the mortgage then you may not progress very far.  

goldilocks0507

Update: 
I HAVE RECEIVED AN OFFER 😁 Today is my first day back in hospital after two weeks of annual leave, and with everything happening right now, I really needed some good news! 

JustJane101

goldilocks0507 said:

Update: 
I HAVE RECEIVED AN OFFER 😁 Today is my first day back in hospital after two weeks of annual leave, and with everything happening right now, I really needed some good news! 

ohh CONGRATS!!!! I'm so happy for you!

Firsttimebuyer_25

That is such amazing news for you!!! Huge well done! 

goldilocks0507

@JustJane101 thank you so much! It’ll be you next 🤞🏻 

@Firsttimebuyer_25 thank you! I’m so happy I feel like crying!