NatWest mortgage application, payday loan and adverse bistory

Nina9013

Hi, just looking for some advice.
My partner and I are currently making a joint application for a mortgage. He is already a home owner, I’ve never had a mortgage. We earn 94k a year combined without over time. We are going through a mortgage broker who got us a DIP with NatWest for 10% and up to 328k, we found and our offer was accepted, house is 270 and we will be putting 10% down. We proceeded to full application on Friday (hard search on credit file now). However, I am really worried as I have a history of late payments in the past, most recent October last year to Very as I didn’t have DD set up. I also have a history of payday loan use in 2018, most recent settled in 2019 - never missed payments. I only used them as at the time I’d went back to uni to specialise and had to pay an early cancellation fee for handing a lease car back form my job at the time and had to purchase a new car within a short time frame. I hadn’t realised the impact payday loans can have on mortgage applications, if I had I would’ve asked for a loan from my dad! Only other debts I have currently are around 300 on a credit card which I’m paying down monthly and should be gone soon and an arranged overdraft. No defaults or anything like that, no student loans. Partner has a good credit history. I’m really worried about letting him down with my history as we love the house. Has anyone else had any experience/have any knowledge on getting a mortgage with NatWest with a similar history?

thanks

EmzJenks

Was your broker aware of all this when they did the application? Is they were and still placed you with Natwest then they can't have thought it'd be an issue 

ACG

The pay day loan usage is fine.
The late payment, natwest usually want nothing in the last 12 months, but they also usually leave it down to their system to score your application. I think you will be fine, you have passed the credit check, the late payment is a one off and 8 months old so it is unlikely an underwriter will go against the system in your case (from what you have said). 

Nina9013

Hi Emz, yes he asked us to give him our credit reports from check my file, 3 months payslips and bank statements fingers crossed