Did not declare default

failure1

Yes. I know I am an idiot. Wife will kill me.

But if anyone can shed any positive light on this my mental health will appreciate it.

Applied to Natwest to Port mortgage and borrow extra £50k through broker. Everything seemed to be in order apart from the 4 year old unsatisfied default of £250  on Equifax file, which was not on Experian which I had been going off.

This came up after the hard credit check and what I assume is the underwriting. Valuation has been booked in.

I cleared the default immediately, which is a mobile phone issue, and sent the receipt over straight away.

No ones fault but mine. But is there any light on this tunnel? I appreciate if they turn us down for any other reason but this would be a heartbreaker. Especially after we got our current mortgage with Natwest 2 years ago and it didnt flag up/affect it then.

Thanks for reading.

ACG

Natwest do not ask about defaults, they rely on the credit check. 
Let your broker know but you have probably got lucky.

failure1

Lucky... that would be a first for me.

He is aware it is paid and the receipt is with him. Maybe they were only questioning the difference in the credit card debt I declared to what's on the credit file.. which is silly as the card is with them and the update would come from them.

Regardless the default has been settled which can only be positive for future endeavors.

Appreciate the reply. First breath I've taken in a while. Will update.

KAP0365

We made a mistake on our application when it asked if we had ever had defaults. I clicked no, thought I was just doing it for me but apparently I had done it for hubby too - he has two Satisfied defaults both over 6 years old. We phoned straight away and told them and although over 6 years they don’t show we said we wanted it noted on the account as it said have you EVER. Everything was fine and we got our offer this past Monday. As far as we know it only goes to valuation if approved by UW - we got an email saying approved subject to valuation, it will probably be even simpler for you if you are already a customer and haven’t had any payment problems with them? And you aren’t borrowing a massive amount extra. 

failure1

No, never an issue with Natwest just this one default. Bizarre one where I could point fingers but I hold my hands up and paid it in full so no one can say I havnt paid what I owe.

Whilst I'm happy to have cleared it though and still disappointed I didn't play the hand well at the beginning, I feel like I've been bluffed into "admitting" this default when maybe they weren't looking at it and maybe only looking at the difference in credit card utilisation (which is at about 9% but still saying 13% on file).

All will be well if it ends well though. Congrats on the offer, bet a weight has been lifted!

Thrugelmir

The default will have been detected. No one is playing poker just hard facts. 

failure1

I would assume you are 100% correct there.

But in your humble opinion, were Natwest asking about it on their communication to the broker or, like ACG said, they rely on credit checks and would not ask about it?

KAP0365

@failure1 we were told it would be picked up on the search so we would have been notified if an issue before being asked to pay for valuation. 

Definitely a weight off our minds, only 3.5 weeks from application to offer which was great! Good luck hope all goes well!

failure1

Well it seems it has been ticked off the tracker and moved on to awaiting the valuation stage so I would be disappointed to be rejected for this in a few days time. Fees paid for valuation on the 10th.

I appreciate the support. Who ever thought this was a good idea aye.

failure1

Failure1 is now Lucky1.. offer through this afternoon. They must have done a desktop valuation.

Incase anyone sees this in the future. Application went in on 29th July and only one check up which was what I assumed this thread was about.

Much love for the reassurance.

KAP0365

@failure1 congrats! All the best for your move