Changing property with NatWest - will they want more bank statements?

Lckuj2018

Our application got right through to underwriter and offer was given pending valuation when the sale fell through. since then we have found a new property but it’s took us 5 months. We have logged a change of property form and sent it to them as application still open. It’s been 5 months so we are just inside the 6 months timeframe …my question is - will they want 3 months bank statements again? 

The change of property form states at the bottom that once form submitted they will arrange new valuation , nothing about more packaging documents. 

Does anyone know? reason  I ask is there is things on the statements I don’t want them to see this time round. 

JMA74

Up to date packaging is usually required if it hadn't reached offer stage 

Lckuj2018

Great! My partner went on a gambling spree throughout February. No issues prior on any other statement. I guess this would be an outright no now 

JMA74

Not really. I've had loads of cases accepted with Natwest with gambling on them.  If it was within account limits and an overdraft wasnt exceeded then it would fall in to discretionary spending.  A few times I have had an underwriter agree to average 3 months of gambling transactions and then take it as a monthly spending commitment from affordability. 

How ugly are the statements? 

ACG

JMA74 said:

Not really. I've had loads of cases accepted with Natwest with gambling on them.  If it was within account limits and an overdraft wasnt exceeded then it would fall in to discretionary spending.  A few times I have had an underwriter agree to average 3 months of gambling transactions and then take it as a monthly spending commitment from affordability. 

How ugly are the statements? 

I think the issue here is that everyone knows you need 3 months statements. 
If the week after you get a mortgage you go gambling loads, it could look a bit suspect. If I were the underwriter I would probably want 6 months worth to see if there is an issue. 

Likewise if I were the broker. 

ACG

Lckuj2018 said:

Great! My partner went on a gambling spree throughout February. No issues prior on any other statement. I guess this would be an outright no now 

Gambling is not an outright no. But it really depends.

A good example we had when I worked for a bank was we had someone who bet £50 every weekend - not a problem. 
We then had someone who would bet anywhere between £1 (in 20p denominations) through to about £10 a day on a bingo site. 

We were fine with the £50, the underwriter did not like that the other person was betting and betting and betting despite it being small amounts. They would have preferred it if the person was just uploading a fiver a day and cashing out or not. But it appeared they had less self control. 

Lckuj2018

@ACG @jma74
we talking £900 within a week, a loan to cover it, then another 900. Loan paid off last week. It’s just a mess I could cry, there is no other gambling in the last 6 months. 

I just hope they don’t want bank statements again as they already had them in November. Broker uploaded payslips yesterday and new payrise letter from employer - broker thinks NatWest won’t want bank statements again ??

SuperExcelMan

Lckuj2018 said:

@ACG @jma74
we talking £900 within a week, a loan to cover it, then another 900. Loan paid off last week. It’s just a mess I could cry, there is no other gambling in the last 6 months. 

I just hope they don’t want bank statements again as they already had them in November. Broker uploaded payslips yesterday and new payrise letter from employer - broker thinks NatWest won’t want bank statements again ??

This is the definition of a gambling problem. Consider getting him to sign up to GamStop - this will stop him from using almost all UK registered gambling sites.
It’s worth blocking yourself as well, otherwise he could open accounts in your name.

chanz4

a loan is a red flag