Anyone want to join me? Awaiting Mortgage decision...

dinamit

Hi All

Having gone through a two week negotiation to get my offer accepted, I have applied for a mortgage with NatWest via an IFA the day after the offer was accepted. The vendor wants exchange by the end of the month or might go to another (cash) buyer, so the pressure is on! This suits me just fine, but having read everyone's posts here I am beginning to worry about NatWest processing the offer within this tight time frame.

I asked the IFA to instruct the valuation prior to underwriting taking place in order to save time. It's been two days since application submitted and valuation instructed but no date booked.

Any idea what are the current NatWest time frames and processing times? I read horror stories about huge backlogs but that was some time ago.

So anxious not to lose this property as fought long and hard for it already.

Any input greatly appreciated.

Many thanks!

vsh1

My time line..
Been looking since last November
1/09/14 - Offered on Property (Rejected)
Sold it somebody else
Thurs 2/10/14 Property back on market
Fri - 3/10/14 slightly higher offer and accepted same day
Fri - 3/10/14 - DIP
Mon - 5/10/14 - Full application via independent broker
Wed - 8/10/14 - Valuation instructed ( Barclays track it)
Thu - 9/10/14 - Text saying valuation booked for 9/10
Fri - 10/10/14 - Valuation accepted - offer will be in post shortly (Barclays Track it)

So waiting for offer now.. its going to be long weekend!!!!! Hope to hear something on Mon-Tue

Andyt1981

Hi All,

We've just made a full application to buy a new build in Scotland with a 5% deposit.

Timeline:

7/10/14 AIP from Halifax
09/10/14 Paid reservation fee on house (£99)
10/10/14 Full application submitted.

vsh1

vsh1 wrote: »

My time line..
Been looking since last November
1/09/14 - Offered on Property (Rejected)
Sold it somebody else
Thurs 2/10/14 Property back on market
Fri - 3/10/14 slightly higher offer and accepted same day
Fri - 3/10/14 - DIP
Mon - 5/10/14 - Full application via independent broker
Wed - 8/10/14 - Valuation instructed ( Barclays track it)
Thu - 9/10/14 - Text saying valuation booked for 9/10
Fri - 10/10/14 - Valuation accepted - offer will be in post shortly (Barclays Track it)

So waiting for offer now.. its going to be long weekend!!!!! Hope to hear something on Mon-Tue

10/10/14 - Your mortgage offer is in the post (Text and Barclays Track it)

mrs_blackadder

vsh1 wrote: »

10/10/14 - Your mortgage offer is in the post (Text and Barclays Track it)

Great news!

WillyWonga

dinamit wrote: »

Hi All

Having gone through a two week negotiation to get my offer accepted, I have applied for a mortgage with NatWest via an IFA the day after the offer was accepted. The vendor wants exchange by the end of the month or might go to another (cash) buyer, so the pressure is on! This suits me just fine, but having read everyone's posts here I am beginning to worry about NatWest processing the offer within this tight time frame.

I asked the IFA to instruct the valuation prior to underwriting taking place in order to save time. It's been two days since application submitted and valuation instructed but no date booked.

Any idea what are the current NatWest time frames and processing times? I read horror stories about huge backlogs but that was some time ago.

So anxious not to lose this property as fought long and hard for it already.

Any input greatly appreciated.

Many thanks!

Hi,

I have just had my Natwest mortgage app approved after nearly 6 weeks via a broker. Natwest instruct the valuation last after all the underwriting and when received back send it for a final approval. Best advice is to get the IFA to stress the urgency.

Good luck

e4boyy

Nationwide Mortgage, They are giving me real headache, they re requested 4 times more information from my accountant. Its over 6 weeks now since i submitted the application, Valuation done, Mortgage application accepted in principle all ok and clear i wonder why they would like to dig it more and more... Anyone in the same situation? I regret i chose Nationwide for the mortgage.

Timeline :

30/08/14 Applied online:
14//09/14 All the requested documents submitted.
17/09/14 - Nationwide re requested some documents.
20/09/14 Documents resubmitted.
23/09/14 Valuation done.
31/09/14 Documents passed the checks and forwarded for final checks.
08/10/14 Nationwide requested more information from my accountant.

mrs_blackadder

WillyWonga wrote: »

Hi,

I have just had my Natwest mortgage app approved after nearly 6 weeks via a broker. Natwest instruct the valuation last after all the underwriting and when received back send it for a final approval. Best advice is to get the IFA to stress the urgency.

Good luck

Does this mean ours has been through underwriter already then?

learningaboutmoney3

some good news on here, looks like things are moving on for quite a few of us!
mrs blackadder I rang the lender myself in the end and asked them to explain their process. Ours had been underwritten prior to valuation then they checked everything and had the mortgage readied for offer, then it was application being produced. As we got to each stage it got more and more positive and less and less likely we would be declined.

mrs_blackadder

Very encouraging!