Mortgage Lending Disgrace - Very Unfair!

spoovy

hopeofahome said:

So if Natwest were to potentially refuse me at this point 4 months after AIP it would be for no valid reason

But they do have a valid reason. You had a bad debt with them, so now they don't want to lend you more money.

hopeofahome

spoovy said:

hopeofahome said:

So if Natwest were to potentially refuse me at this point 4 months after AIP it would be for no valid reason

But they do have a valid reason. You had a bad debt with them, so now they don't want to lend you more money.

I've never had a bad debt with Natwest. I don't know where you have got this information from, do you work for Natwest? 😂
The Fact: Natwest had refused me for BTL Mortgage 6 years ago (reason being for £3k worth of general debt 10 years prior)

haras_n0sirrah

We have assumed you had bad debt with natwest as you said they refused you for bad debt 10 years prior. Debt only stays on a credit record for 6 years so unless the bad debt was with the natwest group they would have no way of knowing about it if it was over 6 years old so that makes no sense

ACG

haras_n0sirrah said:

We have assumed you had bad debt with natwest as you said they refused you for bad debt 10 years prior. Debt only stays on a credit record for 6 years so unless the bad debt was with the natwest group they would have no way of knowing about it if it was over 6 years old so that makes no sense

I read it the same as you.
But going back to the first post it actually says:

their excuse 7 weeks later was (Historic debt of approx £3k - from 10 years prior. So then why accept me in the first place when they had all of this information from Day 1 and what is the point of the 6 years to clear your credit report rule? This is not fair!

It does not actually say he had bad credit. 

Although the dates are all over the place. It has gone from 4 months to 7 weeks to 5 months...
This thread is too confusing. 

SpiderLegs

ACG said:

haras_n0sirrah said:

We have assumed you had bad debt with natwest as you said they refused you for bad debt 10 years prior. Debt only stays on a credit record for 6 years so unless the bad debt was with the natwest group they would have no way of knowing about it if it was over 6 years old so that makes no sense

I read it the same as you.
But going back to the first post it actually says:

their excuse 7 weeks later was (Historic debt of approx £3k - from 10 years prior. So then why accept me in the first place when they had all of this information from Day 1 and what is the point of the 6 years to clear your credit report rule? This is not fair!

It does not actually say he had bad credit. 

Although the dates are all over the place. It has gone from 4 months to 7 weeks to 5 months...
This thread is too confusing. 

If the OPs mortgage application was as accurate as the information they’ve provided in this thread it’s no wonder it got rejected.

hopeofahome

SpiderLegs said:

ACG said:

haras_n0sirrah said:

We have assumed you had bad debt with natwest as you said they refused you for bad debt 10 years prior. Debt only stays on a credit record for 6 years so unless the bad debt was with the natwest group they would have no way of knowing about it if it was over 6 years old so that makes no sense

I read it the same as you.
But going back to the first post it actually says:

their excuse 7 weeks later was (Historic debt of approx £3k - from 10 years prior. So then why accept me in the first place when they had all of this information from Day 1 and what is the point of the 6 years to clear your credit report rule? This is not fair!

It does not actually say he had bad credit. 

Although the dates are all over the place. It has gone from 4 months to 7 weeks to 5 months...
This thread is too confusing. 

If the OPs mortgage application was as accurate as the information they’ve provided in this thread it’s no wonder it got rejected.

TIMELINES:
Mortgage Broker contacted in June 2020
Natwest AIP in July 2020
Valuation September 2020
Current deal expired September 2020
Still waiting decision as of 15 November 2020
-------
BTL Mortgage refused in 2014

dunstonh

hopeofahome said:

SpiderLegs said:

ACG said:

haras_n0sirrah said:

We have assumed you had bad debt with natwest as you said they refused you for bad debt 10 years prior. Debt only stays on a credit record for 6 years so unless the bad debt was with the natwest group they would have no way of knowing about it if it was over 6 years old so that makes no sense

I read it the same as you.
But going back to the first post it actually says:

their excuse 7 weeks later was (Historic debt of approx £3k - from 10 years prior. So then why accept me in the first place when they had all of this information from Day 1 and what is the point of the 6 years to clear your credit report rule? This is not fair!

It does not actually say he had bad credit. 

Although the dates are all over the place. It has gone from 4 months to 7 weeks to 5 months...
This thread is too confusing. 

If the OPs mortgage application was as accurate as the information they’ve provided in this thread it’s no wonder it got rejected.

TIMELINES:
Mortgage Broker contacted in June 2020
Natwest AIP in July 2020
Valuation September 2020
Current deal expired September 2020
Still waiting decision as of 15 November 2020
-------
BTL Mortgage refused in 2014

It appears we have all been going on the basis of your earlier post that you had a "Historic debt of approx £3k - from 10 years prior." with the Natwest group and other comments that pointed to it being a natwest group debt.
Can you confirm whether it was a Natwest group company?

csgohan4

OP what are you hoping with this complaint which will not be upheld. Best to spend your time elsewhere like being honest with your broker or finding someone else. Applying randomly with different lenders will only make matters worse and may leave a footprint on your credit file

haras_n0sirrah

I am really confused. There is no way that in 2014 natwest declined you for a mortgage because you had 3.5k debt on a credit card in 2004 that wasn't with them and didn't go bad. It is impossible 

ACG

hopeofahome said:

SpiderLegs said:

ACG said:

haras_n0sirrah said:

We have assumed you had bad debt with natwest as you said they refused you for bad debt 10 years prior. Debt only stays on a credit record for 6 years so unless the bad debt was with the natwest group they would have no way of knowing about it if it was over 6 years old so that makes no sense

I read it the same as you.
But going back to the first post it actually says:

their excuse 7 weeks later was (Historic debt of approx £3k - from 10 years prior. So then why accept me in the first place when they had all of this information from Day 1 and what is the point of the 6 years to clear your credit report rule? This is not fair!

It does not actually say he had bad credit. 

Although the dates are all over the place. It has gone from 4 months to 7 weeks to 5 months...
This thread is too confusing. 

If the OPs mortgage application was as accurate as the information they’ve provided in this thread it’s no wonder it got rejected.

TIMELINES:
Mortgage Broker contacted in June 2020
Natwest AIP in July 2020
Valuation September 2020
Current deal expired September 2020
Still waiting decision as of 15 November 2020
-------
BTL Mortgage refused in 2014

When was the application submitted? Was that the same time as the AIP was issued? 

I love Natwest, last year they were the lender we used the most. This year they are second most. They are one of the more flexible lenders we use. I have only ever had them decline one application in 9 years and I have even got cases through with them that have been declined if the customer goes direct or via another broker - I can not sing their praises enough and I know how they work better than any other lender we work with. It probably helps I also used to work for them. 

But as horas says, Natwest declining you in 2014 and again now makes me think there is something you are either not telling us or something you are unaware of. Natwest for self employed applicants are not the best in the current climate and I will be the first to admit that despite my love for them. But they are still accepting self employed applicants - I have first hand experience of that, and I am getting mortgage offers issued in under 2 weeks with them now and consistently over the last 2 months. 

I think there is more to this because they do not decline people after the DIP 99.9% of the time... The only application of mine they have ever declined was one where the applicant had been using Pay day loans as recently as 2 months before the application went in - thats it. The only case in 9 years... and even then we got it accepted when we tried again 8 weeks later.