Natwest full application time scale

gagahouse

hayleyjane82 wrote: »

My buyer I setting a buy to let mortgage through natWest and they have been shocking! There was an admin issue on our buyers credit report which was all. Evidenced by her broker and corrected so to be fair that took around 10 days. But they took 4.5 weeks before instructing valuation (last thurs) and the valuation still hasn't been booked in!! Really furious with NatWest as they are holding up our entire process- the solicitors have completed everything else- we are just awaiting natwest mortgage. It's been 5.5 week so far...grrrrr

Tell me about it, have suffered similar timescales with Natwest.

Finally got a call this morning to take payment for valuation survey - have asked selling agent to let me know if he doesn't get call from surveyor today as they promised - you have to keep on top of them, patience doesn't pay with them!

SheffDan1867

21st March - Had full mortgage application meeting (took 4 hours!)

23rd March - Noticed full credit search on Experian

25th March - Had the application to sign

26th March - Sent signed documents, statements and pay slips via Natwest branch

Anyone know how long internal mail takes for Natwest?

c.redfern

Well spoke to mortgage broker at the end of the day and he said natwest had approved the mortgage and our letter was in the post. He said to speed things up though he spoke to natwest and they said they would fax the mortgage offer over to our solicitor so that he can do what he needs to straight away to save time fingers crossed everything goes to plan. We are looking at signing contracts next week and potentially completing on April the 10th. The sellers go away on the 12th so if it doesnt happen then it will be about the 20th. For saying we didnt offer on our property until feb 16th we havent done to badly. So far anyway hope i havent jinxed it now haha

lizards

c.redfern - that's good to hear!

SheffDan - I don't, but I'd hazard a guess it's at least 48 hours as that's how long they seem to take to process anything we've sent them.

Our valuation has been scheduled for Tuesday, but payment was taken yesterday. Our broker has said NatWest will get the survey Thursday but we can't expect a mortgage offer (if all goes to plan) much before the end of the following week because Easter is in the way. So a slow process!

bettywurzel

Glad to hear things are moving for you c.redfern!

We applied two weeks ago today, application was accepted 10 days ago and still no sign of the valuation! All this waiting is making me nervous

mplunk

We had valuation on Tuesday... Our broker was off today so I called the bank myself out of curiosity, at least to find out about valuation. But was told they haven't received the report yet. All this waiting is driving me nuts. :wall:

Thrugelmir

hayleyjane82 wrote: »

There was an admin issue on our buyers credit report which was all. Evidenced by her broker and corrected so to be fair that took around 10 days. But they took 4.5 weeks before instructing valuation (last thurs) and the valuation still hasn't been booked in!! Really furious with NatWest as they are holding up our entire process-

Sounds as if there were other issues to be overcome with the underwriters. Too simplistic to say there was merely an issue with the credit report.

kingstreet

mplunk wrote: »

We had valuation on Tuesday... Our broker was off today so I called the bank myself out of curiosity, at least to find out about valuation. But was told they haven't received the report yet. All this waiting is driving me nuts. :wall:

In most cases, the SLA for a valuer returning a valuation report is 48 hours.

lostftb

Hi Everyone,

Joining this thread now Here is our timeline so far.

Natwest
Full application submitted 09/03/2015
Extra documents requested 11/03/2015
Extra documents sent 13/03/2015
Documents not clear 15/03/2015
Extra documents re-sent 16/03/2015
More documents requested 17/03/2015
More documents sent in 18/03/2015
Mortgage agreed but waiting
for papers from Solicitors 20/03/2015
Valuation instructed 26/03/2015
Valuation fee taken 26/03/2015

Does anyone knows when Natwest will inform us the time valuation date? Just so we know when to switch back to worry mode lol.

lizards

We were told we'd "passed" and valuation would be instructed on Tuesday/Wednesday of last week. On Thursday our broker (and also the seller's EA) told us the valuation had been booked for next Tuesday, so a week after the mortgage was approved. Money came out for the valuation on Wednesday for the record.

The EA told me NatWest are being a bit slow with valuations at the moment (she's already had to reassure our seller) but I don't know if that's a regional thing.