Natwest & historic credit issues

sunshine900

My partner & I have an AIP with Natwest via a Broker 
We have excellent credit records now with £8k on credit cards all paid on time & up to date 
Approx 10 years ago I had credit issues, with several defaults with tesco, BOS  RBS & HSBC & capital 1. Also a ccj with link financial. Are any of  these linked to Natwest? I'm worried as I've read they hold on to historic credit data & we will get rejected on application. None of these are showing on credit files now 

[Deleted User]

RBS bought NatWest around 20 years ago.

sunshine900

So this means we could be rejected on this basis?

Thrugelmir

Potentially. 
£8k owing on credit cards is a factor when being considered for a mortgage even if you have a decent credit rating. Debt is debt. 

KAP0365

It will ask you to declare whether you’ve had any defaults etc once you’ve passed the credit check stage after submitting final application. How much your debt level matters is dependent on their affordability tests. I have credit card debt but 25% utilisation and good debt to income ratio, and we are within affordability levels, husband has no debt. Are you going through a broker? If not may be worth asking one for an opinion 

sunshine900

yes we are going through a Broker. We declared all cc balances to our Broker when they did the application for the AIP so I assume Natwest would have known this when giving the AIP. A hard credit check was also done. My query was more about the historic debt than the current debt 

J4mesg

sunshine900 said:

yes we are going through a Broker. We declared all cc balances to our Broker when they did the application for the AIP so I assume Natwest would have known this when giving the AIP. A hard credit check was also done. My query was more about the historic debt than the current debt 

If the default  and issues were onger than 6 years ago it won't matter.

MovingForwards

J4mesg said:

sunshine900 said:

yes we are going through a Broker. We declared all cc balances to our Broker when they did the application for the AIP so I assume Natwest would have known this when giving the AIP. A hard credit check was also done. My query was more about the historic debt than the current debt 

If the default  and issues were onger than 6 years ago it won't matter.

Internal information stays around longer than the 6 year information held by credit reference agencies. 

KAP0365

sunshine900 said:

yes we are going through a Broker. We declared all cc balances to our Broker when they did the application for the AIP so I assume Natwest would have known this when giving the AIP. A hard credit check was also done. My query was more about the historic debt than the current debt 

My husband had 2 defaults, one 9 years and the other 7 years old, we got our approval subject to valuation this morning, but neither of the defaults were with RBS group companies and we have no other adverse credit issues, historic or otherwise.

i think a dip with NatWest with a broker is a hard check so if you’ve passed that and as long as you tick yes and declare it properly and honestly, and you provide any extra information they ask for, then if affordability is fine you shouldn’t have too much of a problem. Just depends on how they view historic issues within the RBS group but if your broker knew about it and thought it was an issue, then he wouldn’t have placed you with them surely?!

EverythingIWant

We were declined further into the application process due to ‘legacy debt within the RBS group’ although I firmly believe at the time they were looking hard for excuses not to lend - turns out we had a default 10 years prior with RBS and even though I still had the letter from them saying the charges that eventually took the account overdrawn and defaulted were excessive and RBS would remove any negative entries on the CRA they still declined it. 

kingstreet

Yep. Checks later in the process finding any internal RBSG markers will see an accepted application declined. We had one recently.