Natwest full application time scale

mrbendy

I have just been told by broker that Natwest have said it will take up to 4 working days to process so no offer before middle of next week Was hoping for something sooner. Suppose I would be happy to get it all sorted out prior to Easter.

lizards

Yeah, we were told 3-4 days on Monday which was when they asked for various extra things. The broker seems to think Friday or Monday for us.

Particularly stressful for us as, completely coincidentally, we just found out our landlord wants to sell the property we rent and they want to talk to us about it tomorrow. There goes our safety net if this application fails! There's literally nothing else rentable (not even being picky - Rightmove shows NOTHING) for our size family within a few miles, and three of our children go to the local school which is very hard to get into.. so a very very stressful time.

mplunk

We are with Natwest as well via broker, HTB 95%, FTB. Everything seem to be going good, even too good... I don't quite believe that we weren't requested any additional info since full application - is that even possible? I'm on maternity leave right now, which clearly shows on my payslips, wouldn't they ask for my return date or something like this... Anyway, submitted full application on the 7th of March, on 13th was told it's going to valuation, today got letter from surveyors and valuation booked for the 24th. Called Natwest myself out of curiosity, so bypassing the broker, they said agreed subject to valuation, so as soon as valuation is back and if everything ok - it's going to offers team.

Does it mean we've been through underwriting already? Or are we still gonna be hit with requests for additional info? Also, do I understand correctly that if we would have failed affordability or credit checks we would have been rejected already?
Broker seem to be totally confident that we'll be absolutely fine, but I'm obviously afraid of some catch somewhere

mrbendy

Hi Mplunk. I believe Natwest do their underwriting up front prior to survey so if you go to survey they are probably happy with your credit and affordability. After the surveyor it goes back to underwriters for a 'final check' before they issue the offer-not sure what that means exactly but I think if you are t survey stage then hopefully they won't be asking for anymore info etc.

c.redfern

lets just hope that they dont take tolong once the valuation is done. I have seen some people say that itbyook weeks after their valuation to then actually get their mortgage offer, where as some people have had them 2 days later. Really need mine quick as we have we have used the raf help to buy as part of the deposit, to enable us to save some of what we had saved backed to do up the house, they take ten days to release the money and the 10 days cant start until after the mortgage agreement is through as they wont all their detals so thats whats held us back. I know i will get the home buyers report sent by email

Timbosaurus

Hello all - First time poster, but I've been reading on here for some time.

My full application went in on last Tuesday (10th March). No news so far, although I gather my broker has been away for a few days until today. Every time a new email comes through my heart falls into my stomach when I click on Outlook :rotfl:

I passed the AIP (done through MTE) - which based on what I've read on here previously means the odds should be pretty solidly in my favour, as it will already have done a full automatic score and credit check on me. If they do decide to pass on me I'll be pretty short of other options, however, as the purchase price on the flat I'm buying is only £34k.

mrbendy

Hi Timbosaurus. You are exactly a week behind me. Mine went in on 3rd March. Was hoping to get an offer before the weekend but alas- hasn't happened yet. Am going to turn my email off until Wednesday next week. I am an impatient man and all this waiting around is driving me nuts.

snudge01

lizards wrote: »

Now we are at full application there is nothing showing besides the initial soft DIP search on Experian. Equifax shows a hard search from the DIP but only a soft search due to the application. We're not at the end yet though, so there's still time for more searches.

I thought they were only supposed to do 1 credit search per application. What is the difference between soft search and hard search?

lizards

They appeared to do two for the agreement in principle with Equifax - at least that is how it is listed. One appears under "Credit Searches" and the other appears under "Other searches". Similarly on Experian the search done there at the agreement in principle stage did not show as a "search for credit".

There was a later entry under "other searches" when they got around to processing our full application on Equifax.

So whilst there are three searches altogether (plus one from the broker to do with ID perhaps?) only one of those, for the agreement in principle, has been classed as a "credit search" and that was with Equifax. The others all sit in a category alongside the ones done by insurance comparison websites etc. I am under the impression nobody else can see those searches except us?

I haven't checked CallCredit.

snudge01

lizards wrote: »

They appeared to do two for the agreement in principle with Equifax - at least that is how it is listed. One appears under "Credit Searches" and the other appears under "Other searches". Similarly on Experian the search done there at the agreement in principle stage did not show as a "search for credit".

There was a later entry under "other searches" when they got around to processing our full application on Equifax.

So whilst there are three searches altogether (plus one from the broker to do with ID perhaps?) only one of those, for the agreement in principle, has been classed as a "credit search" and that was with Equifax. The others all sit in a category alongside the ones done by insurance comparison websites etc. I am under the impression nobody else can see those searches except us?

I haven't checked CallCredit.

Thanks very much for the explanation.