NATWEST mortgage application

downs523

Hi we have a meeting in branch at Natwest to go through the full mortgage application on Tuesday.

we have the AIP
we have accepted offer on our flat
we have had offer accepted on the house we want to purchase

when we booked the appointment they said it takes around 2 hours!!!!! really?

question is.... will we find out on tuesday if we have been accepted, if not how long will it take? has anyone gone through the process recently? whats the ETA...

i have read on older posts that they take 5-6 weeks!!!! is this still the case?
thanks

Chris

chances

We are applying with natwest currently. We had agreement in principle. Had offer accepted on house put full mortgage application in through a broker last Tuesday. Broker has said he has sent pay slips. Accounts etc to them on thursday. I have been credit checked at agreement in principle and then a follow up search on Thursday? Just waiting to hear back from them to see if we have been accepted and if they are going to instruct a survey. Fingers crossed.broker said he's going to chase them first thing Monday morning.

Pete9501

downs523 wrote: »

when we booked the appointment they said it takes around 2 hours!!!!! really?

Erm, yes. Just been through the same thing with the Nationwide and yes it did take 2 hours. However, in fairness the broker didn't know anything about me, if I understood the process and the different mortgages available. So quite rightly she went through a series of senarios looking for the best deal. I went along with it to ensue I hadn't missed anything or if a new super deal was just about to be launched. It didn't cost anything other than my time, so a useful health check prior to making big decisions.

They won't know if you have really done the research or just walked in as a FTB so they assume nothing. Its the safe option.

They may offer house insurance as well, but having gone through the figures it was cheaper to buy elsewhere. Life insurance also likely to be discussed and quote, again likely to be expensive. You could skip these two if you are happy to make your own arrangements.

amylyn

currently going through natwest application. Formal mortgage appointment took nearly 3 hours! That was on the 18/09. Was told there and then i had passed credit checks, but needs to go to underwriters, as all mortgage apps do. Got a a text next day saying they were processing app and would hear in 5 working days. Heard back 30/09 that i had failed on affordabilty, but if i could find another 5k would pass. Managed to find 5k, valuation fee asked for 5/10, carried out on 9/10, all well so now just waiting for formal letter, hopefully! It is a stressfull process however natwest have been fairly quick processing things. Should only take 4-6 weeks if you are a straightforward case.

downs523

amylyn wrote: »

currently going through natwest application. Formal mortgage appointment took nearly 3 hours! That was on the 18/09. Was told there and then i had passed credit checks, but needs to go to underwriters, as all mortgage apps do. Got a a text next day saying they were processing app and would hear in 5 working days. Heard back 30/09 that i had failed on affordabilty, but if i could find another 5k would pass. Managed to find 5k, valuation fee asked for 5/10, carried out on 9/10, all well so now just waiting for formal letter, hopefully! It is a stressfull process however natwest have been fairly quick processing things. Should only take 4-6 weeks if you are a straightforward case.

That's interesting that they asked for another 5 grand. May I ask what sort of percentage you were lending? We are looking at a 85% LTV mortgage putting down approximately £35,000.

mrs_blackadder

We're applying through Natwest via broker. Inital meeting was nearly 2 hours. Our application was fully submitted last Monday and our valuation is tomorrow which I understand to be fairly quick.

amylyn

I have a 40% deposit but I am still borrowing just over 3.5 times my income so knew it was tight. I found a good website called natwest intermediaries which is obviously used by brokers it gives more details on their lending criteria, it also let's you know what applications they are processing based on dates. Hope all goes well.

downs523

well the appointment went well i think... took 1hr 50 minutes and the application was accepted at the time but it still gets sent off so not sure how accurate his PC screen is by saying "accepted". he said we will know in 5 working days or maybe sooner as we had lots of documents for ID, statements etc... fingers crossed!

amylyn

Glad all went well. Sounds similar to my application. Took a little longer for me with needing to find extra deposit. My timeline is;
full mortgage app 18th sept
approved 29th sept
payment for survey taken 3rd oct
phone call from MA to say survey was completed and bank happy with price 9th oct
Currently waiting for formal mortgage offer (fingers crossed)!
Will keep you posted so it will give an idea of how long things are taking.

chances

Our full application went in Tuesday last week, further documents sent in by broker on Friday, broker said we should hear within 4 days, not heard anything from anyone since I last spoke to broker on Monday...I'm hoping no news is good news

colmac71

Hi All,

thought I'd join this conversation as in a similar position.

Currently got a mortgage application on-going with Nat West through a broker who posts regularly on this site.

He put the application in Monday and got a DIP and then progressed to underwriters. He reckons that we'd hear back on Friday / Monday of this/next week.

I believe NatWest underwrite fully first before progressing to valuation.

Also (owing to my OCD nature when it comes to these kind of things) I noticed that according to the Nat West Intermediary site they were working on Applications today that were 'fully packaged' on Monday and also working on those cases from Friday that required more information.

Hope you hear something positive soon.