My mortgage is with the underwriters. Can I lose it?
Discussion
I have a mortgage application in with NatWest. Last week they progressed my application to the underwriting team.
I'm then seeing headlines that Natwest are freezing some mortgage applications.
If it's already with the underwriters does this give me a better chance of it being approved?
Thanks
I'm then seeing headlines that Natwest are freezing some mortgage applications.
If it's already with the underwriters does this give me a better chance of it being approved?
Thanks
Underwriting is the most important stage, if your application passes underwriting you should then get your mortgage offer
If it fails underwriting your advisor will be informed and you may have to provide additional information to satisfy the underwriting team.
Generally speaking if an application has made it to underwriting it's passed initial assessment. If the application is going to be declined it is normally before it gets to final underwriting.
If it fails underwriting your advisor will be informed and you may have to provide additional information to satisfy the underwriting team.
Generally speaking if an application has made it to underwriting it's passed initial assessment. If the application is going to be declined it is normally before it gets to final underwriting.
aka_kerrly said:
Underwriting is the most important stage, if your application passes underwriting you should then get your mortgage offer
If it fails underwriting your advisor will be informed and you may have to provide additional information to satisfy the underwriting team.
Generally speaking if an application has made it to underwriting it's passed initial assessment. If the application is going to be declined it is normally before it gets to final underwriting.
That makes sense, thanks for the insight!If it fails underwriting your advisor will be informed and you may have to provide additional information to satisfy the underwriting team.
Generally speaking if an application has made it to underwriting it's passed initial assessment. If the application is going to be declined it is normally before it gets to final underwriting.
My NatWest application went to underwriters (with a positive result). Really nice lady called me and talked through some details. Mine was an unusual employment set-up that even the great Sarnie got nervous about (only director, all equity held in trust).
Ultimately the human intervention meant an offer in 10 days from application - at a time everything seemed to be backed up for months.
Here's hoping for a positive outcome.
Ultimately the human intervention meant an offer in 10 days from application - at a time everything seemed to be backed up for months.
Here's hoping for a positive outcome.
22 said:
My NatWest application went to underwriters (with a positive result). Really nice lady called me and talked through some details. Mine was an unusual employment set-up that even the great Sarnie got nervous about (only director, all equity held in trust).
Ultimately the human intervention meant an offer in 10 days from application - at a time everything seemed to be backed up for months.
Here's hoping for a positive outcome.
That's good to hear!Ultimately the human intervention meant an offer in 10 days from application - at a time everything seemed to be backed up for months.
Here's hoping for a positive outcome.
I also have a very unique application, being self-employed as well as needing to settle my student loan in order to reach the affordability figures.
I haven't done this yet, I'm hoping they'll give me approval subject to student loan being paid off. Otherwise I'll lose £30k in cash if it falls through.
Gassing Station | Finance | Top of Page | What's New | My Stuff