Advice needed. first time buyer...mortgage app...next steps

scotty_lawrie

Ok so offer accepted to purchase first property. I applied for my first Mortgage over the phone to NatWest. and I submitted all my supporting documentation (statements, payslips, passport etc) to my local branch today.

What are the next steps? they said they would only get in touch if they needed more info. Do i just keep chasing them for an update ? Or will they just send my papers straight to my solicitor if/when its approved?

Apologies for the naievty here, just first time buyer so not sure how everything works at this stage

VIGILANT22

http://www.natwest.com/personal/mortgages/g4/buying-and-selling/buying-your-first-home.ashx

worriedindebt

i know exactly how you feel so dont worry. In all honesty banks are desperate for mortgage business so i expect it will all be dealt with efficiently with them only coming back to you if their underwriting unit have further questions.
when i bought a few years back i had to chase the broker and solicitors to hurry them up but its very different now.. bet you get treated like royalty!
you are after all exactly what the country needs to stimulate the economy

scotty_lawrie

worriedindebt wrote: »

i know exactly how you feel so dont worry. In all honesty banks are desperate for mortgage business so i expect it will all be dealt with efficiently with them only coming back to you if their underwriting unit have further questions.
when i bought a few years back i had to chase the broker and solicitors to hurry them up but its very different now.. bet you get treated like royalty!
you are after all exactly what the country needs to stimulate the economy

thanks for that yeah the lady from Nat West said there shouldnt be any problem if all my incomings/outgoings match what i said they are and they do.
They took the details of my and address of my solicitors, so if they have no problems with my application , will they just send my papers straight to them ?

worriedindebt

they will probably contact solicitors re: the legal work.. nothing to worry about.. also the solicitors are the ones who will handle the money when its all drawn down.
i remember the experience well.. i worried about everything!! will be worth it when you get the keys so good luck to you

scotty_lawrie

Update ..... ok so went into NatWest branch in Aberdeen with all my documentation (payslips etc). They faxed it over just after 9.30 on Tuesday. Called Mortgage dept at end of day to check if it had arrived with them yet. Which it hadnt!
Called again yesterday morning, still hadnt arrived. So called branch , they said it was definately sent and it should have only taken 6Hours max to be scanned to my account. So went back to branch with documents and had them faxed again.
Called Mortgage dept again this morning, still no documents on my account, so was advised to go to branch to have documents re-faxed which the branch have re-done.

What a hassle!

Gonna call before Close of play today to see if they have it on my account yet. I dont mind them taking a bit of time to look at the mortgage , but when it takes them this long to get the documents, when they should be there as soon as they are faxed....it gets a bit annoying!

Anyone had any issues with Nat West Mortgages ? or is this just a one off blip? .......hopefully

scotty_lawrie

Anyone any advice would be greatly received!

VIGILANT22

For next time.........use a mortgage adviser........

scotty_lawrie

I did. the NatWest advisor.



Couldnt use my financial adviser as the mortgage that was best deal wasnt open to him.

VIGILANT22

More like the Nat West "REP".....Check KFI to see if you rcvd advice or "information"......

worriedindebt

sounds like a case of communication problems.. not had any experience with natwest so cant comment on how they operate but hang in there
keep us updated too