Underwriters

Kmb22

Hi,

please could anyone shed some light on the underwriter process. We are first time buyers, we have a decision in principle from NatWest, we have asked been asked to provide our bank statements. For the last, I would say six months maybe more I’ve been out helping my Daughter out vanishing a new flat and buying stuff for my new grandchild so my bank statements look like I spend all of my wages. But I never go into an overdraft and all my bales are paid on time and my credit rating is very good. Well my mortgage application be declined at this point, my partner hardly spend anything please could anyone shed any light on this as it’s keeping me awake at night. Thank you 

Strummer22

If you're worried about affordability, it matters whether you're currently renting and whether your mortgage repayments will be less than you're currently paying on rent - that would help.

Otherwise, the underwriters (if they're doing their job properly) shouldn't outright decline, but should be able to work out that your recent spending is discretionary and of course you'd stop buying furniture and baby toys if that was what is required to make your mortgage payments...

ACG

With Natwest, they are generally using payslips to confirm wages and to check whether there are any undeclared commitments. 

Some lenders assign every transaction to a category - ie just-eat, starbucks etc might be assigned to socialising for example. Natwest do not work like that, they use ONS figures, so I would not be too worried from what you have said.