Natwest Mortgage - Waiting for final decision - any advice?!

spectre

receievd our mortgage offer today in the post, whoohoo.
The valuation what exactly the price we paid for it,

16days from appying over phone to offer letter in my hand not to bad at all i didnt think.

Should exchange next week some time.

sammygsammyg

Hi Lucy.
Me and my partner applied for a natwest mortgage in the branch on the 15th May, it took a week for them to approve my partners payslips etc, the valuation got the go ahead on friday last week. How long did it take for them to do the survey? how long did the report take?
thanks
sam

wavehead

i am currently buying a house with halifax. i have done all my surveys as it had damp and wood rott and also needed electrical survey etc. it came to bout 6k work.

house purchased for 85.5k and had 30k deposit

its been with their underwriters since last tuesday a week ago.

do you know how long it takes as i thought it was a 48 hour turn around time, also do you rekon their will be a retention

twistedpro

i have found halifax to be really really slow, taking more than a week at the underwriters each time asking for something different

wavehead

as far as i know they have everything they need, i spoke to my advisor and they wont require anything like payslips or anything. the vender is gettin annoyed coz they had it so long and we both want a quick sale

amazelucy

sammygsammyg wrote: »

Hi Lucy.
Me and my partner applied for a natwest mortgage in the branch on the 15th May, it took a week for them to approve my partners payslips etc, the valuation got the go ahead on friday last week. How long did it take for them to do the survey? how long did the report take?
thanks
sam

Hi Sam

I have just spoken to Natwest this morning and they informed me that the Surveyor was instructed on Thursday last week - they said they get 7 working days in which to do the valuation and send the report back - so taking into account the bank holiday for me this will be by Tuesday June 2nd and for you by Wednesday June 3rd.

I called the estate agents this morning to see whether the surveyor has been in contact to arrange the valuation but they havent been as yet. Natwest said to find out tomorrow if they have made the appointment and if they havent by midday then to phone Natwest back and they will give them a nudge! Apparently they have been really good recently at getting the valuations done quickly so fingers crossed for both of us!!

So maybe if you ring your estate agent to see if yours has been arranged? And if not arranged by Thursday give them a ring!

I hope this is helpful - do keep in touch! Its great to be able to 'compare notes' with someone actually going through the same process at the same time!

Take care
Lucy

amazelucy

spectre wrote: »

receievd our mortgage offer today in the post, whoohoo.
The valuation what exactly the price we paid for it,

16days from appying over phone to offer letter in my hand not to bad at all i didnt think.

Should exchange next week some time.

Thats fantastic Congratulations! Despite my panicking.....touch wood.... they have been really helpful and efficient so far!

Lucy

amazelucy

wavehead wrote: »

as far as i know they have everything they need, i spoke to my advisor and they wont require anything like payslips or anything. the vender is gettin annoyed coz they had it so long and we both want a quick sale

Mine is with Natwest, and they were really quick with it - but they were able to check out bank account as we are with natwest etc. Sorry i cant help i just dont know anything about any other lenders

Good luck

lucy

wavehead

hi Lucy

i got my report done very fast, booked it on a tuesday then got the report online on the friday night.

then i had to get a load of reports like damp and timber that took anther week

now im just waiting to hear from the underwriters regarding retention and about the agreement to lend the money to me then i can exchange to get property. however i have been waiting a week now for halifax to give conformation they are really slow

wavehead

sounds like ur in week 1 of buying a house process lol
week 2 i got other reports
week 3 went to underwriters to get final confirmation they will lend money and still awaiting it