NatWest Mortgage Application Help Complicated

RedFraggle

He is committing to live with his parents for the rest of their lives. 

Neilos9

silvercar said:

Neilos9 said:

Clearly he is only going to get 125k from Natwest....
If your Friend does not know what they are doing, and is Asking you for help, the help you should give is directing them to a broker who is qualified to help, and will have done this countless times before.....
You don't take your Car to a hairdresser to fix it....

 Broker isn’t going to be interested if he already has his mortgage application in with NatWest.

Either his income isn’t sufficient for more than £125k mortgage or maybe NatWest have misunderstood the whole set up (maybe the application was filled in incorrectly and OP wrote the purchase price as £145k rather than as £250k with a £105k gifted deposit?). 

He’s not had a full appointment yet to see if they can actually go ahead but they said 145k is not a problem. Not had the bank value the house but that exceeds what he is asking for.

Newbie here - Explain how the boker wont be interested as he has a full application with Natwest.
Also, Can brokers not help, if someone has gone to a lender, and they cant do what customer needs.
My bad.

RedFraggle

Did he tell NatWest he will own the house outright? Is that actually what his parents think is happening or do they think he is "buying in" rather than buying them out?
Also needs to consider deprivation of assets should the parents need care as they are giving away any means to pay by selling their home. 

silvercar

Neilos9 said:

silvercar said:

Neilos9 said:

Clearly he is only going to get 125k from Natwest....
If your Friend does not know what they are doing, and is Asking you for help, the help you should give is directing them to a broker who is qualified to help, and will have done this countless times before.....
You don't take your Car to a hairdresser to fix it....

 Broker isn’t going to be interested if he already has his mortgage application in with NatWest.

Either his income isn’t sufficient for more than £125k mortgage or maybe NatWest have misunderstood the whole set up (maybe the application was filled in incorrectly and OP wrote the purchase price as £145k rather than as £250k with a £105k gifted deposit?). 

He’s not had a full appointment yet to see if they can actually go ahead but they said 145k is not a problem. Not had the bank value the house but that exceeds what he is asking for.

Newbie here - Explain how the boker wont be interested as he has a full application with Natwest.
Also, Can brokers not help, if someone has gone to a lender, and they cant do what customer needs.
My bad.

Brokers make money by selling/ facilitating mortgages. If he already has an application in with NatWest they won't see any commisssion.

Neilos9

silvercar said:

Neilos9 said:

silvercar said:

Neilos9 said:

Clearly he is only going to get 125k from Natwest....
If your Friend does not know what they are doing, and is Asking you for help, the help you should give is directing them to a broker who is qualified to help, and will have done this countless times before.....
You don't take your Car to a hairdresser to fix it....

 Broker isn’t going to be interested if he already has his mortgage application in with NatWest.

Either his income isn’t sufficient for more than £125k mortgage or maybe NatWest have misunderstood the whole set up (maybe the application was filled in incorrectly and OP wrote the purchase price as £145k rather than as £250k with a £105k gifted deposit?). 

He’s not had a full appointment yet to see if they can actually go ahead but they said 145k is not a problem. Not had the bank value the house but that exceeds what he is asking for.

Newbie here - Explain how the boker wont be interested as he has a full application with Natwest.
Also, Can brokers not help, if someone has gone to a lender, and they cant do what customer needs.
My bad.

Brokers make money by selling/ facilitating mortgages. If he already has an application in with NatWest they won't see any commisssion.

I see, thank you for clarifying, I thought they ran a charity - the SING POST - He has not had a full appointment, but has been told 145 should be ok - Clearly means he has started the Application.

snoop321

Update. I had him round last night for dinner and even before I could speak to him about it, he cut me short and told me he has decided against it, he feels he’s  too young commit to something like this. 

I appreciate everyone’s advice. Thank you.