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Worth applying to high Street lender?

Hi Everyone,

This is my first post here, I need some advice please.
My husband and I have been kindly gifted a deposit by our family. My husband has an excellent credit rating, no late payments etc. My credit rating is fair. I have a satisfied default from April 2016 for £68. I had missed payments on some accounts through 2017/2018. My credit profile has been fine for the last 14 months.
When we log in to online banking, natwest say they will lend us upto 135k, they've five us a mortgage in principle for 125k (112.5k after deposit of 10%)
Are they going to run a mile if we submit a full application? 
Would there be a better lender to try for a 90% deposit?


Replies

  • K_SK_S Forumite
    2.8K Posts
    1,000 Posts Name Dropper
    ✭✭✭✭
    @banana5pancakes It sounds like you've got an AIP, which is a positive sign. The default is very small, satisfied and almost 5 years old now. Assuming the default and missed payments show on Equifax, the AIP *should* have picked it up. There's no guarantee that this will mean an accept on the full mortgage application, as generally speaking, 90% LTV mortgages are currently underwritten more strictly than lower LTVs so it depends on the rest of your financial circumstances as well.

    I am a Mortgage Adviser

    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.

  • Banana5pancakesBanana5pancakes Forumite
    9 Posts
    Name Dropper First Post
    Thank you for your reply. It's good to know the default should have been picked up by the AIP, I wasn't sure how much a soft search gives away. It's definitely shows on all the credit reference agencies so I'll keep my fingers crossed 🤞
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