Worth applying to high Street lender? 27 February at 1:40PM in Mortgages & Endowments 2 replies 231 views

Banana5pancakes

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?

K_S

@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.

Banana5pancakes

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 🤞