Missed payments from 2017....Will I be rejected?

jazzyja

Hi, I'm looking into different lenders for my potential mortgage. Possibly may try and apply alone without my broker, if this is feasible. 
Only issues I can see is that I have a few missed payments from 2 catalogues in 2017. They're very small amounts, one is £10 and the other the balance was £200. I missed the payments on both quite a few times in that year as I was a broke student and on a bursary! 
Also my bank statements....im never in my overdraft but I do have alot of transactions, because I never withdraw cash. But I don't gamble etc. Would this be an issue?
Also when you get your DIP do they go as far back as they would with a hard search? I'm struggling to find out the difference between the 2. I've got a DIP with natwest. 95% LTV with a rate of 3.9%, I adjusted this to 90% LTV and the rate only fell to 3.1%.
Any advice appreciated thankyou 

K_S

@jazzyja

- 4 year old missed payments should not stop you from getting a mortgage. If you've passed a DIP, then that's as much assurance as you are going to get.

- I don't see anything to worry about in how you have described your bank statements. It's quite normal for applicants who use their main account debit cards for their day to day expenditure and for the statements to appear "messy"

- Lenders can pick up a similar level of information on a soft-footprint credit check as they can using ahard-footprint credit check.

- A broker can't get you the Natwest 95% product as it's direct only and not (currently) available through brokers.

jazzyja

K_S said:

@jazzyja

- 4 year old missed payments should not stop you from getting a mortgage. If you've passed a DIP, then that's as much assurance as you are going to get.

- I don't see anything to worry about in how you have described your bank statements. It's quite normal for applicants who use their main account debit cards for their day to day expenditure and for the statements to appear "messy"

- Lenders can pick up a similar level of information on a soft-footprint credit check as they can using ahard-footprint credit check.

- A broker can't get you the Natwest 95% product as it's direct only and not (currently) available through brokers.

Thankyou! 
Sorry back to my messy statements (because I am a big flapper!) My boyfriend also transfers me money towards bills and if we go halves on a takeaway or whatever, this is id say once or twice a month....Will they question this? He's not going on the mortgage. Also I paid 2 months upfront for my rent 2 months in a row so looks like I pay a ton of rent when I don't! Will this be an issue? Like I say, I never go into my overdraft. 
Have you ever had dealings with natwest? How are they as lenders?
 Sorry for all the questions! I do see your replies alot on here and they're very helpful and informative, I'm very grateful for it. Thankyou 

K_S

@jazzyja They might query regular large outgoings (like the double rent you mentioned) but the rest of it shouldn't present an issue. As long as there is a reasonable explanation that should be fine.

Mon2907

I was really worried about the bank statement side of things, especially as my lender was who I had my bank accounts with. They did in fact query PayPal transactions which I explained, embarrassingly, were for body shop and I also got queried on a Tesco bank transaction which is my home insurance (they thought was a credit card, understandably). I do the same, me and my husband don’t have a joint account so he transfers half to me each month as the bills come out of my account, this wasn’t queried. Also had a large payment (£600) come out to pay for a holiday which I wanted to pay off out of savings ahead of application and they queried this but were happy with explanation.
Basically, they can ask you anything as they are risk assessing you but as long as your honest and your explanations are plausible and can be backed up with evidence, where needed, they are happy! It did have me on edge none the less! Hope all goes well for you. 

Mon2907

We were with NatWest too!!!