Natwest full application time scale

c.redfern

Hi all
Our full mortgage application was submitted last wednesday as far as im aware, we had to take in other documents in to the mortage broker on friday and signed the direct debit mandate and another document.
I am just posting to see if anyone knows approx how long it should take to hopefully get the mortgage approved fingers crossed. We are borrowing £99,000 have put £11,000 deposit down. Amount borrowed would be 2.2 times of eyearly income.

I know we should just wait and see but its our first house and we are very excited but at the same time so nervous, and im one of lifes stressers. Just to make me stress more, the sellers of the property are buying a repossessed property and they advised us they need to complete within 28 days. The 28 days began on the 27th February

Any info on the process would be greatly appreciated Thanks

c.redfern

anyone lol

ftb2015

We did our full application on 10th Feb, valuation was on 27th Feb and now it's with the offers team...our broker told us they have a backlog. I would think you would be very hard pushed to complete within 28 days!

c.redfern

oh dear, fingers crossed we get it through. If we dont hit the 28days does that just mean they wont be able to have the house that they are purchasing as they need to sell theirs, or will we loose our house aswell.

ftb2015

Not sure if they do a fast tracking service?? Seems a bit unrealistic of sellers to me to expect to complete within 28 days considering all that needs to be done. We're buying a new build so I'm not sure how things go when in a chain, but from reading threads here it doesn't seem to be an easy process.

c.redfern

its a chain of only us and them, they are buying a repossessed house, as its a repossession they have to complete in 28 days its not their choice

ACG

Its taking about 2-3 working days to assess paperwork.

I submitted an application on Wednesday last week also, it went to valuation stage yesterday after being passed over to the risk team for 48 hours (due to the way one of the applicants get paid).

If yours has not gone to valuation stage then either the broker is being slow or their has been a request for further paperwork/checks with natwest or possibly lost in transit.

Frustrating thing with natwest is that you have to post or fax documents to them. I tend to nip to my local RBS and put it in internal mail otherwise things can go missing in transit I tend to find.

STG_2015

We are in the same boat developers wanted us to exchange within 28 days, everything really quick then its been sat with Nationwide

7/2- viewed house, reserved
10/2- dip received
25/2- help to buy authority to proceed
26/2- full application to NW
3/3- valuation
4/3- asked for more info on student loan, provided the same day
9/3- searches back from solicitors
10/3- asked for more info on child benefit, provided information again

Hate the not knowing. Been chasing daily, the poor broker must hate me How soon after the mortgage offer can exchnage take place, everything is ready apart from offer from NW

Thrugelmir

c.redfern wrote: »

its a chain of only us and them, they are buying a repossessed house, as its a repossession they have to complete in 28 days its not their choice

You need to be in a position to complete. Unfortunately it's not always possible to control the time frame. Any number of issues could cause time to be lost.

ftb2015

Mortgage offer has arrived today, so 28 days so far. Searches are complete so hoping it's a matter of weeks before completion.

ACG

28 days with natwest from application to offer?!??
Woah! Its not taking that long or anywhere near that long to get the average case to offer with natwest.