Natwest morgate declined after AIP

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lonibra said:

Only a BIT miffed at the MB taking 4+ weeks to tell you that the application has been declined for a time pressured purchase? You're a saint

To be honest I need to take some responsibility for not chasing it up earlier. We enquired a couple of weeks ago but the broker was on holiday at the time and because our first agreed Mortgage took around 6-8 weeks to be processed we thought that this was a normal timescale, especially given it was the same lender, but yeah not overly impressed at this stage.

MWT said:

grossepointblank said:

Yeah it appears the £56 was outstanding (and has now subsequently been paid) but it had been marked as settled on both Experian and Equifax irrespective of that. To further add confusion I spoke to Natwest and they said that the underwriter had referenced the Equifax report specifically in the decision and none of the others.

That isn't really surprising as the others didn't show the problem.

Hopefully your broker had the information from you that Equifax was correct and that you've now paid it off before they submitted the appeal, as that would let them point out that you had been misled by the other incorrect reports but as soon as your attention was drawn to the problem on Equifax you immediately remedied the problem.

Might not make a difference as it still doesn't alter the fact that it existed, but it has a better chance than an appeal on the grounds that they didn't spot the problem when they approved your previous application...

Yeah that's certainly a fair point. I told my Broker I'd paid it immediately and asked if he wanted confirmation of the payment but he said no initially. Starting to think he might not be very good...

15JM83

Start looking for another lender asap! Don’t waste any more time with NatWest , I had an AIP with them , took a week to get to applying for full app for them to tell me the underwriter wouldn’t understand my payslip ! Honestly they are so picky ! Went to another lender and had offer within 5 days 

Jedi_Queen

15JM83 said:

Start looking for another lender asap! Don’t waste any more time with NatWest , I had an AIP with them , took a week to get to applying for full app for them to tell me the underwriter wouldn’t understand my payslip ! Honestly they are so picky ! Went to another lender and had offer within 5 days 

Hi, can I ask what lender you went with?

Thanks

James-may

I got an aip from NatWest, upon securing a property applied proper and was instantly declined.
Turned out NatWest don't always do a credit check on aip applications, but do on applications proper.
Which to me makes an aip not worth a thing.

I was approved via my broker with Santander.

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Update: Natwest refusing to budge.

Lender now pursuing alternatives but seems it's not just Natwest declining it. We may have identified another issue with mis-reporting so we are now exploring that.

Thank you for the advice in this thread so far. Looking unlikely that we will be able to proceed but I will post any relevant updates in here when I can.

15JM83

Hi it was Coventry Building Society that we went to  

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15JM83 said:

Hi it was Coventry Building Society that we went to  

Interestingly we had an AIP from them initially on our last attempt at a purchase but it then switched to Natwest. I have asked our broker to explore with them again.

Thank you!