Natwest Mortgage now at valuation stage

Dinof355

Hi guys, I completed my formal application process a week and a half ago and I'm having the valuation done tomorrow. What stage am I now at? They have taken the valuation fee from my account. If the valuation comes back ok am I pretty much there? How much further have I got to go and am I through the underwriting stage?

Sorry, first mortgage!!

Cheers.

Thrugelmir

The outcome of the whole application process will a mortgage offer or a decline. The application could fail at any stage.

Having said that. Stay positive and remain chilled. As the mortgage application is often the least stressful part of the buying process.

Dinof355

Thanks . If natwest have instructed the valuation does that generally mean that the underwriters are happy? And should the valuation be ok then hopefully things look positive

Gordon_Hose

Have the underwriters not called/written to give you a formal mortgage offer?

They did with us, they called and said everything was OK and took the money for the survey and homebuyers report over the phone.

pinkteapot

You won't get a formal mortgage offer until they're happy with everything (including survey). You might be told verbally that they're happy subject to valuation survey.

Lenders vary. We're applying through Santander and our broker has told us that with them the valuation is the last hurdle.

First an admin team assembles our file, checking our application and requesting any additional docs.

Second the file is passed to the underwriters for a yes or no on lending to us personally.

Third a valuation survey is done on the house.

However, some lenders may do things in a different order. If you're using a broker, ask them what Natwest's process if. If not, ask Natwest.

Dinof355

My bank rang me and said it was all going smoothly and it looked positive and that a survey was happening today. She didn't clarify if that meant that the underwritten was happy and this has just been passed to the valuation stage.. So the valuation stage is the last hurdle??

Thanks for replys

Peach90

I'm currently applying for my mortgage with Natwest, I called them yesterday and was advised my application had been approved by the underwriters and was ready to go for valuation. My mortgage advisor also followed this up with an email to me advising subject to the valuation natwest are ready to go to offer. Hope this info helps!

sundino210

I am at the end of the NatWest process - its taken some time to get here. I have been informed that the valuation report is back now and it is being 'processed' !! I'm really nervous after reading lots of other emails that the property might get under-valued!!!
Does anyone know how these guys actually value the property? our home is quite unique in the fact there are only 6 houses on the terrace, and 2 are maisonettes, the other 4 are terrace houses. nothing has been sold since our own property 2 years ago - so that might be difficult for them!!


Just didn't get a good feeling when the surveyor came round!


fingers crossed!!

lizzibeff

Right there with you!

We've just been told by our FA that the mortgage is agreed subject to a valuation, which should happen in 2 - 3 days.

So nervous about what this might throw up, as the house isn't even built yet. I'm not even sure how they go about valuing a house that won't be built until July.

stuartw101

How soon after applying with Natwest did they request to see bank statements, and did you have to prove at the time you had the full deposit?