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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?


Comments

  • K_S
    K_S Posts: 6,875 Forumite
    1,000 Posts Fourth Anniversary Photogenic 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. 

    PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.

  • 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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