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Andrew S

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Review of the NatWest, Fixed Rate Mortgage:

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Warning.

Warning. If you are a sole trader in a legitimate, cash based business DO NOT approach this company for a mortgage. If, like me, you declare your cash takings but choose not to travel 50 miles to the only bank branch still open to deposit them - your bank deposits will not necessarily match your turnover. This problem will only increase because cash is not dying out whereas banks are closing down. This lender has refused to accept the word of HMRC and the SA302s . They have spent over six weeks faffing around before asking for audited accounts, which they should really have done from the outset. Even then there is still no promise of a mortgage at the end of it. Furthermore they are now expecting to see a regular salary being drawn. This is rarely the case with a sole trader, nor is it a requirement of HMRC. My position with the lender has become completely untenable and the application has now been withdrawn. My personal opinion is that this lender shows little understanding of self employment and I advise you to look elsewhere. Reviewed on: 17th January 2024

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