Natwest dragging feet & need mortgage asap. Please help

dindin

Hello,
I needed to get a a buy to let mortgage and got to Natwest as to whether they could offer the mortgage or not. After taking all the details from us, we did not get a reply from them and had to call them to find out what the situation was after 7 days. They said they will tell us soon as it has been approved but they did not. We had to ring them!!!.:mad:

Rang them and we were told its been approved. They even got their solicitor to start the paper work and was sent to us. We still had no letter from them that they will send out the offer documents and when. We kept on chasing them but kept on coming with excuses that they needed more information, which we supplied asap and got the nearest branch to fax it over to the mortgage centre. Apparently it takes over 6hrs for the fax to reach the centre!!! as we were told and could not get an answer till the following day. They NEVER ring back even though they promised that will get in touch asap. The survey got done after 6 weeks!!:mad:

Next day we called and were told not decided yet and waiting on underwriters and will get in touch asap. Nothing again!!. We ring again and more excuses. This has been going on for 7 weeks from the time we went to the branch to get the mortgage started and still now no where as to whether they will give the offer document or not,:mad:

They keep on saying they will send out the offer document but frankly its taking liberties and we need the mortgage to purchase next week. We have been unable to go else where as not its too late to start the process as it take 3-4 weeks.

We asked to speak to the mortgage manager, was put on hold and then were told the manager does not takes calls from customer. What the heck is the manager getting highly paid for? Not even given the name of the manager. Ridiculous. It seems for sitting around and letting the front staff get the 'stick'.:mad::mad::mad:

HOW THE HECK WAS 'NATWEST VOTED THE best first-time buyer mortgage lender and best bank for mortgages for 2011-2012' AND as written on this link 'w w w.natwest.com/personal/mortgages/g5/mortgage-adviser.ashx':(:mad:

Support you all the way – your named mortgage adviser will help you choose the right mortgage and support you from start to finish - Absolutely lots of rubbish - don't even want to talk to us.:mad:
Listen to you – you can choose to speak to an adviser face-to-face or over the phone. Which ever is best for you. - Just not interested in listening. Managers do not even want to take the call.:mad:
Keep you up to date – on the progress of your application by phone and text messages - Don't even bother ringing and letting us know what is happening!!:mad:

We have said we will be taking it with the Financial ombudsman but what can we expect?

Any suggestions to the how to got about this as we need the mortgage offer this week.

Thanks in advance:)

dindin

Called Natwest and they have now said they have declined after previously giving assurances that they will offer the mortgage despite them taking long!!!

What time wasters. They should not be best mortgage bank but worst. They are tax payer owned is that the reason they are 'best bank'. SIMPLY TIME WASTERS. Also messed up our credit rating in the process.........

cattie

Sorry to hear you've been messed about so, must be devastating, especially to keep you hanging on for so long, only to be told no.

Dave_Ham

Hi there,

Firstly, when you complain to them, you need to mention the Treating Customers Fairly - TCF policy. In relation to mortgages, this is the single biggest FSA concern. It may not help solve your issue, but puts it back in their court.

Subject to your current credit score, I have had some Birmingham Midshires buy to let applications offer this week already and only did the applications last week so they are clearing the straightforward cases super quickly at the moment assuming the local surveyor gets booked in quickly.

Good luck

dindin

Thanks for your replies.

Got the reason why Natwest declined

The surveyor (he got booked by Natwest after 6 weeks) in his opinion thinks that that the property is multi-occupancy as there are locks in the internal doors.

We reponded by saying that the property is let to 1 person as named on the AST and that he has family members

living with him, as it a house with 4 rooms with 2 on the ground floor namely reception rooms. This is the question we asked before taking on the tenant as to who will be residing in the property. We did not want various different people living in the property as this bring various problems even though there is a potential to make higher rent or them potentially subletting.

We also said the property has had locks for over 15 years and before we moved in. There is sash lock leading to the kitchen and utulity/bathroom area. There is also lock on the cellar - currently locked by me and not habitable. The is also a loft with steps leading to it but has no door hence open access to anyone but not classified as bedroom.

Is having a lock on all the doors classify it as multi occupancy?

I know of many houses that have locks on all the doors. Does that make them multi occupancy? Even though its only family with children residing there? I did get a couple with their parents and 4 children, Would that have been classified as multi occupancy even thought it had locks on all doors?

My reasoning as to having locks on doors is for privacy and safety. Who would want someone entering the room at the wrong time or snooping around other family members stuff without their permission. This creates tension and problems hence the locks.

We also asked why it took them 6 weeks for a survey but got no proper answer. We also said if they had told us in the first 2 weeks, as it seems is sufficient to get an answer from the various replies, then we have had gone elsewhere but to keep as hanging saying they will 'offer' as soon as they get a decision is not acceptable.

Thank you and seek further advice to this dilema.

GMS

The valuer is instructed by the lender to ensure security is suitable.

Unfortunately it is not standard practice to have locks on doors. As far as the surveyor is concerned it is a HMO.

You say the locks were there before you moved in?? If you already own it how can it be a purchase next week? Do you mean you are refinancing to buy another property?

Cannot see the valuer having much choice in this situation other than to suspect HMO.

dindin

Thanks GMS.

True the 'The valuer is instructed by the lender to ensure security is suitable.'
Property is worth about £320k mortgage req £150k.

'Unfortunately it is not standard practice to have locks on doors.' I had bought the property over 15yrs ago with the locks victorian house sash lock 3 lever. Many house, whether family or others, I have been to have locks on the doors. Nothing new. These day there are no locks on doors in new builds to keeps the costs down but I have been to new builds and owners have out locks. I had a family-couple with parents and 4 children, come to view take on the property and they asked me whether the doors had locks on them, if not I would have to put them in. There was no way I could have refused.

I had been looking to a multi-let 4, max 5 people individual rooms, but it turned out that its took much work and hassle, hence 1 AST with 1 person named on it and it had to be a family.

Yes its a refinancing to buy another property.
We even said if the tenant has broken the tenancy, we can deal with it, even if it comes to removing them as that would have been against the contract.

Thank you

bradmullet

I haven't much to add as it seems you have tried everything, but I just wanted to let you knpow that we went through a similar thing and eventually got sorted with The Halifax. Hope you get it all resolved!