[KS Cleaning]

Just a little heads up that if you have taken the SEISS grants, some of the mortgage lenders won’t remortgage for you. I am currently with NatWest and my 5 year fixed deal finishes in March, I phoned them up today to negotiate a new deal and they won’t take my income into account as I’ve received two of the grants. I argued that I have continued to overpay my mortgage repayments by a considerable amount throughout the pandemic, but they were having none of it.
NatWest and I believe others, have a blanket ban on mortgage lending to those who have received grants.

[Bungle]

What are you going to do? Don't they just put you on the standard variable rate after you've come out of a fixed rate?

Dazmond doesn't have these sort of problems 

[KS Cleaning]

What are you going to do? Don't they just put you on the standard variable rate after you've come out of a fixed rate?

Dazmond doesn't have these sort of problems 

I will use a broker who will take my business elsewhere. I won’t be going on to their variable rate, I think the variable rate is around 4%, the fixed rate for a 60% LTV without product fees is around 1.7%.......a massive difference.

[deeege]

NatWest  are the worse for this by all accounts. Friend of mine can’t remortgage with them as he declared furlough income on his bank statement to them.

There’s still plenty of lenders that will lend to you so a whole of market broker is your best bet.

[Richard Groves]

Thanks for heads up but it's a bit late now. 3 years in to a fixed 5 years with Barclays. Suppose a lot can change in next 2 years though. What though, when borrowers jump ship to a lender who will ?  Maybe a bad business decision in long run ?

[NWH]

I wouldn’t worry there will come a point that they will have to start lending money  again money is cheap at the moment.

[֍Winp®oClean֍]

I claimed the first two seiss grants.
I have just remortgaged  with Natwest with no issues at all. Took 5 years fixed at 1.89%. Because I'm already with Natwest for my mortgage I didn’t even have to supply any information at all, zero! I actually did it online via their 'manage my mortgage' portal, couldn't have been more straightforward. I don't even bank with them either. The only thing I can think of which may cause the said issues is the LTV (loan to value). Mine's only about 35/40% so I assume wouldn't illuminate any risk lights. Or, if you are changing provider, then this will always instigate a new application process as far as I'm aware.

[KS Cleaning]

I claimed the first two seiss grants.
I have just remortgaged  with Natwest with no issues at all. Took 5 years fixed at 1.89%. Because I'm already with Natwest for my mortgage I didn’t even have to supply any information at all, zero! I actually did it online via their 'manage my mortgage' portal, couldn't have been more straightforward. I don't even bank with them either. The only thing I can think of which may cause the said issues is the LTV (loan to value). Mine's only about 35/40% so I assume wouldn't illuminate any risk lights. Or, if you are changing provider, then this will always instigate a new application process as far as I'm aware.

That’s interesting, how long ago was this Winpro? I was only asking 60% LTV and even then this was to facilitate building an extension. I actually got a letter from NatWest the other week to tell me my deal was ending soon and to avoid going over to the higher variable interest rate to phone them to arrange a new deal. I gave all my personal information but as soon as I said I was self employed and a sole trader the lady asked if I had received any grants, I told her I had the first two but wouldn’t be applying for the third one, she then said she would have to check and soon came back and said only my wife’s salary could be put on the application.
The margins obviously aren’t big enough for the lenders these days, they used to bend over backwards to get your business. Oh well, their loss will be someone else’s gain.

[KS Cleaning]

Thanks for heads up but it's a bit late now. 3 years in to a fixed 5 years with Barclays. Suppose a lot can change in next 2 years though. What though, when borrowers jump ship to a lender who will ?  Maybe a bad business decision in long run ?

Yep, NatWest will lose a lot of customers over this. A friend of mine also had his application rejected 2 weeks ago by them. There will be other lenders out there tho, willing to take a punt on the fall out from NatWest.

[֍Winp®oClean֍]

I claimed the first two seiss grants.
I have just remortgaged  with Natwest with no issues at all. Took 5 years fixed at 1.89%. Because I'm already with Natwest for my mortgage I didn’t even have to supply any information at all, zero! I actually did it online via their 'manage my mortgage' portal, couldn't have been more straightforward. I don't even bank with them either. The only thing I can think of which may cause the said issues is the LTV (loan to value). Mine's only about 35/40% so I assume wouldn't illuminate any risk lights. Or, if you are changing provider, then this will always instigate a new application process as far as I'm aware.

That’s interesting, how long ago was this Winpro? I was only asking 60% LTV and even then this was to facilitate building an extension. I actually got a letter from NatWest the other week to tell me my deal was ending soon and to avoid going over to the higher variable interest rate to phone them to arrange a new deal. I gave all my personal information but as soon as I said I was self employed and a sole trader the lady asked if I had received any grants, I told her I had the first two but wouldn’t be applying for the third one, she then said she would have to check and soon came back and said only my wife’s salary could be put on the application.
The margins obviously aren’t big enough for the lenders these days, they used to bend over backwards to get your business. Oh well, their loss will be someone else’s gain.

It was about 4/5 weeks ago pal and comes into effect on 1st Jan. I also had the letter and email reminders that my current deal was ending too. If I was you, I would go onto their online portal, you just need your mortgage number and a few other basic details. The offers should be there for you. I did actually call too, and the guy started to go into an application, I cut him off and asked him if this conversation would result in anything better than what they offer online. It wouldn't so we ended the call. You can't rely on phone services, many are numpty agency workers in call centres- I had one a few years ago trying to convince me it was my turnover that counted and not my profits!!🤔 turned out to be completely wrong of course.

[cgh window cleaning]

I'm with Natwest.I had a mortgage with them and was all set to buy a new house beginning of the year all approved, all paper work done everything fine.

The house I was buying fell through so I found something else and wanted 50k less from them to purchase the new one.I had taken the first grant and because of this it was a real struggle to get approved and a proper fight.They moved my account up to senior under writers and eventually I got it.I had always over paid had a hefty deposit and LTV was good for them and still it was almost imposable.
 I know some one had the same problem with Santander but Nationwide approved them no problem and they hadn't had any grants.
If any one has had all 3 or any mortgage holidays.They won't stand a chance for a good couple of years

[NWH]

If you were asking for 60%  of LTV that’s quiet high they will be taking into account the drop in house prices so the % of the LTV will-could increase rapidly.

[NWH]

They won’t be selling many Mortgages then will they the world and his wife it seems has opted for the Mortgage holiday,and as for first time buyers lol no chance.

[NWH]

Spoke to a customer he has 2 sons that are pilots he was one himself 1 is a captain and has been kept on by  his airline on furlough,the other 1 was due to take his captains exam in May he will probably never work as a commercial pilot again his Dad told me,he’s gone from a potential 90k a year to 21k delivering for Ocado and no chance of a Mortgage they will have to eventually lend money or they will run out of customers.
People remortgaging at the moment are a better bet than any first time buyers.

[֍Winp®oClean֍]

Just checked, it was 24th November I signed off on the offer. I waited a while to see if I could get anything better with anyone else, but couldn't within economic reason (once you calculate any fees etc.)

[KS Cleaning]

If you were asking for 60%  of LTV that’s quiet high they will be taking into account the drop in house prices so the % of the LTV will-could increase rapidly.

60% LTV isn’t considered high risk

[KS Cleaning]

I claimed the first two seiss grants.
I have just remortgaged  with Natwest with no issues at all. Took 5 years fixed at 1.89%. Because I'm already with Natwest for my mortgage I didn’t even have to supply any information at all, zero! I actually did it online via their 'manage my mortgage' portal, couldn't have been more straightforward. I don't even bank with them either. The only thing I can think of which may cause the said issues is the LTV (loan to value). Mine's only about 35/40% so I assume wouldn't illuminate any risk lights. Or, if you are changing provider, then this will always instigate a new application process as far as I'm aware.

That’s interesting, how long ago was this Winpro? I was only asking 60% LTV and even then this was to facilitate building an extension. I actually got a letter from NatWest the other week to tell me my deal was ending soon and to avoid going over to the higher variable interest rate to phone them to arrange a new deal. I gave all my personal information but as soon as I said I was self employed and a sole trader the lady asked if I had received any grants, I told her I had the first two but wouldn’t be applying for the third one, she then said she would have to check and soon came back and said only my wife’s salary could be put on the application.
The margins obviously aren’t big enough for the lenders these days, they used to bend over backwards to get your business. Oh well, their loss will be someone else’s gain.

It was about 4/5 weeks ago pal and comes into effect on 1st Jan. I also had the letter and email reminders that my current deal was ending too. If I was you, I would go onto their online portal, you just need your mortgage number and a few other basic details. The offers should be there for you. I did actually call too, and the guy started to go into an application, I cut him off and asked him if this conversation would result in anything better than what they offer online. It wouldn't so we ended the call. You can't rely on phone services, many are numpty agency workers in call centres- I had one a few years ago trying to convince me it was my turnover that counted and not my profits!!🤔 turned out to be completely wrong of course.

TBH if that’s how they want to treat a loyal customer, I would rather take my business somewhere else.

[֍Winp®oClean֍]

I think I know what the issue is.
I'm pretty sure if you want to borrow additional funds then this initiates a new application process. If you simply wish to remortgage, with the same provider then there is no application required. If you go on the web portal you can do both to see without actually committing or applying. It allows you to try various options before you actually go forward with any.

[NWH]

If you were asking for 60%  of LTV that’s quiet high they will be taking into account the drop in house prices so the % of the LTV will-could increase rapidly.

60% LTV isn’t considered high risk

In normal circumstances I agree it’s not high risk but in a very short time that % of LTV could drastically change,they are nothing more than bookies and if they are not lending there’s a good reason,the bookie is not very often proved wrong the same principles apply with these lenders the time the loan is offset with other lenders another couple of times all of a sudden it becomes high risk.

[NWH]

Same with insurance you have a broker they use an insurer and then it’s insured again by them,the initial risk is increased 3-4 fold so what appears to be low risk quickly becomes medium or high risk certainly at the moment.
Plenty of first time buyers trying to buy at the moment with 30-40k from mum and dad and getting laughed out the bank.